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So what the heck is going on with the U.S. economy? We've been warned about a possible recession for two years now. But the economy is still going strong, and the housing market seems to defy gravity. The contradictions may have left you scratching your head, but the guest in this episode will help clear up any confusion. He'll also share his thoughts on what and where to invest. Our guest Rick Sharga has more than 20 years of experience in the real estate and mortgage industries. He's the founder and CEO of market intelligence and advisory firm CJ Patrick Company, and has previously served as EVP of Market Intelligence at ATTOM data, EVP for Carrington Mortgage Holdings, EVP of Marketing at RealtyTrac, and Chief Marketing Officer for Ten-X and Auction.com. Rick is one of the country's most frequently quoted experts on the U.S. economy, real estate, mortgages, and foreclosures. He's appeared on all the major news channels, and several times on this podcast. We just co-hosted a 2024 Housing Market Predictions webinar for the Real Wealth Show. You'll find that webinar at by clicking here. So, if you're wondering how to invest in real estate this year, you might get a few great ideas from Rick. You'll also find information about the North Dallas Rental Fund mentioned in the podcast at https://growdevelopments.com. And don't forget to join RealWealth to help expand your real estate knowledge and take advantage of up-to-date investing opportunities. It's free! And please be sure you subscribe to this podcast on your favorite platform, like & comment, we want to hear from you! Thanks for watching! Kathy Fettke LINKS: Watch this episode on YouTube: https://www.youtube.com/watch?v=4mf15R6wtj0 Listen & Subscribe to the Real Wealth Show on your favorite platform: https://link.chtbl.com/RWS Join RealWealth: http://tinyurl.com/joinrealwealth970 Rick Sharga's 2024 Housing Market Predictions Webinar: https://realwealth.com/learn/2024-housing-market-predictions/
Bruce Norris is an active investor, hard money lender, and real estate educator with over 35 years experience. Bruce has been involved in more than 2,000 real estate transactions as a buyer, seller, builder, and money partner. Renowned for his ability to forecast long-term real estate market trends and timing, the release of The California Comeback report in 1997 gained him much notoriety. The accuracy of the extensive report led many California investors to financial freedom. His January 2006 release, The California Crash, was an in-depth look into the California market correction and the statistics behind Bruce's predictions. Bruce speaks and debates nationally and has been a guest speaker at the Mortgage Bankers Association, REOMAC, Inman, HousingWire, California Association of Realtors, California Builders Industry Association, California Mortgage Association, the Real Estate Research Council, and several local and national investment clubs, associations, and service clubs. Bruce has met with local and national government officials including FHA and Fannie Mae to discuss market solutions and market insights. Bruce is also the host of the award-winning series, I Survived Real Estate. The events bring together leaders from numerous real estate sectors to discuss legislation, regulation, stimulus-related issues, and solutions to the current market. The events have also helped raise over $1,000,000 for charity since it began in 2008. Bruce hosts the award-winning Norris Group Real Estate Radio Show and Podcast, where he interviews real estate industry leaders, authors, government officials, local experts, and economists. Guests have included representatives from the FBI, the MBA, Freddie Mac, the Appraisal Institute, HUD, Fannie Mae, PropertyRadar, Auction.com, PIMCO, PMI Group, REDC, the National Auctioneers Association, and the Center for Responsible Lending, as well as Peter Schiff of Euro Pacific Capital and John Mauldin to name a few. There are almost 600 shows and 250 hours of free education in our real estate radio archives. Bruce has contributed articles to many real estate magazines and newsletters including The Business Press, Scotsman Guide, Creative Real Estate Magazine, The Orange County Register, RealtyTrac's Foreclosure Newsletter, AOA Magazine, and the Daily Commerce. He has also been featured in: The Wall Street Journal, Fox Business News, Nightline ABC, The New York Times, Time Magazine, Good Morning America, the Los Angeles Times, Fortune, Mortgage Banker Magazine, Money Magazine, Reuters, Associated Press, The Orange County Register, The Tribune, and numerous others. He was awarded Educator of the Year by Think Realty in 2018. What you'll learn about in this episode: How Bruce came up with his model to accurately forecast long-term real estate trends Why you always need to account for “mood” when forecasting market trends How the human element comes into play when understanding market shifts How urgent groups of inventory determine the market, and what that means for the current market What Bruce predicts for the real estate market over the next few years What interest rates and average homeownership length tells us about where things are headed Resources: Sign up for a Free Mentor Panning Session: https://www.ronlegrand.com/mentoring-application/?cid=TMP Free Training: www.Thementorpodcast.com/terms Get Ron's $599 Wholesaling course for FREE when you join his Gold Club for ONLY $59 a month! –https://thementorpodcast.com/GC142
Today, Jason is joined by Rick Sharga of ATTOM Data Solutions, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), a foreclosure listings and search portal. Is there a looming housing crisis? Not according to the data! Listen in and get the facts minus the misinformation and hype from the YouTube click bait sensationalist ‘chicken littles'! Know the facts and data that will serve as an indicator of trends in the single-family housing investment space across different markets. Note: This interview was done last December 2022. Rick is now with https://cjpatrick.com/ Quotables: “93% of the people in foreclosure have positive equity.” – Jason Hartman “Our data shows that about 6% of homeowners nationally are underwater on their loans. There's half a percent of homeowners who are in foreclosure.” Rick Sharga Mentioned: Altos Research Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Will we see home prices go any lower? Will we see a rise in foreclosures? When will mortgage rates come back down to earth? Is it best to keep a bunch of cash on the sidelines so we can scoop up all the good deals when we are hit by recession? Where does it make sense to buy rental property in this economy? In this episode, you'll hear from someone who can answer those questions and more to help you as an investor make better decisions during these uncertain times. Rick Sharga has more than 20 years of experience in the real estate and mortgage industries and is the Founder & CEO of market intelligence and advisory firm CJ Patrick Company. He has also served as the Executive Vice President of Market Intelligence for ATTOM Data, Carrington Mortgage Holdings, and RealtyTrac's Marketing Department, as well as Chief Marketing Officer for Ten-X and Auction.com. Over his long and distinguished career, he's become one of the most frequently quoted experts on real estate, mortgage and foreclosure trends. If you want to expand your real estate investing horizon, and would like a referral to one of our proven property teams in places like Texas, Florida, and the Carolinas, please hit the “Join for Free” button. Once you are a member, you will have access to our investment counselors, and trusted real estate professionals that can help you reach your investment goals. To find out more about our North Dallas Rental Fund, mentioned during this interview, please go to growdevelopments.com. And please don't forget to subscribe to this podcast! Thanks for listening! Kathy Fettke
Today, Jason is joined by Rick Sharga of ATTOM Data Solutions, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), a foreclosure listings and search portal. Is there a looming housing crisis? Not according to the data! Listen in and get the facts minus the misinformation and hype from the YouTube click bait sensationalist ‘chicken littles'! Know the facts and data that will serve as an indicator of trends in the single-family housing investment space across different markets. Note: This interview was done last December 2022. Rick is now with https://cjpatrick.com/ Quotables: “93% of the people in foreclosure have positive equity.” – Jason Hartman “Our data shows that about 6% of homeowners nationally are underwater on their loans. There's half a percent of homeowners who are in foreclosure.” Rick Sharga Mentioned: Altos Research Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Today, Jason is joined by Rick Sharga of ATTOM Data Solutions, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), a foreclosure listings and search portal. Is there a looming housing crisis? Not according to the data! Listen in and get the facts minus the misinformation and hype from the YouTube click bait sensationalist ‘chicken littles'! Know the facts and data that will serve as an indicator of trends in the single-family housing investment space across different markets. Note: This interview was done last December 2022. Rick is now with https://cjpatrick.com/ Quotables: “93% of the people in foreclosure have positive equity.” – Jason Hartman “Our data shows that about 6% of homeowners nationally are underwater on their loans. There's half a percent of homeowners who are in foreclosure.” Rick Sharga Mentioned: Altos Research Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
The EMPOWERED INVESTOR LIVE conference is almost upon us! Don't miss this life-changing opportunity to empower your journey to Financial Freedom! Acquire the life-changing information to let you begin walking down the road to your Financial Independence Day! Join us for a complete education, exclusive properties and more. Are you aware that income property is history's proven best investment? Jason and his team of experts will empower you to true financial freedom! Go to EmpoweredInvestor.com/LIVE to get your tickets today! Plus, you are also invited to go on vacation with me on the Empowered Investor PRO - Member retreat cruise. Go to EmpoweredInvestor.com/cruise for more details! Today, Jason is joined by Rick Sharga of ATTOM Data Solutions, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), a foreclosure listings and search portal. Is there a looming housing crisis? Not according to the data! Listen in and get the facts minus the misinformation and hype from the YouTube click bait sensationalist 'chicken littles'! Key Takeaways: Jason's editorial 1:22 Rick Sharga on the show today! 2:01 Negative 45% in office REITs; the declining need for office space 5:47 Outsourcing everything but not housing 9:49 Chart: Number of mortgages by interest rate 10:28 Chart: Household equity bubble 2.0 12:18 Join us at EMPOWERED INVESTOR LIVE 13:27 Go on vacation with me on the Empowered Investor PRO - Member retreat cruise. Get your tickets at EmpoweredInvestor.com/cruise Rick Sharga interview 15:30 Welcome back Rick 16:12 Is the sky falling? The numbers say NO 21:51 Chart: GDP Recovers After Two Consecutive Negative Quarters 23:25 Chart: Employment has fully recovered 25:29 Chart: Jobs, wages continue to grow 26:39 What gets your goat? 28:36 Chart: Consumer Spending soars, while confidence plummets 31:48 Consumer credit grows, while savings rate declines 36:21 Inflation still high, but may have peaked 37:14 The Federal Reserve has taken aggressive action 38:50 Yield curve inversion: is a recession inevitable 40:09 Will Federal Reserve cause a recession 43:07 Chart: Mortgage rates still near 20 year high Quotables: "Wages for the first time in many years are growing faster than home prices." - Rick Sharga "The government took a 3 trillion dollar hole and stuffed 15 trillion dollars into it." - Friend of Rick's "When you have 50% more money floating around, you're going to have inflation!" Rick Sharga Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Happy New Year and welcome to 2023! It's time to turn the page on 2022 and look for new real estate investing opportunities! And we have ATTOM's Rick Sharga to help us do that! He joins me in this interview to talk about his data-based opinions on what the real estate market might do this year. That includes specific markets that are more likely to outperform or underperform other markets, along with the strengths and weaknesses of different asset classes. If you don't know Rick, you should. He has more than 20 years' of experience in the real estate and mortgage industries and is currently the Executive Vice President of Market Intelligence for real estate data firm, ATTOM Data. He is also one of the most frequently quoted experts on real estate, mortgage, and foreclosure trends by major media outlets. Rick has also served as Executive Vice President at RealtyTrac, as an EVP for Carrington Mortgage Holdings and Chief Marketing Officer of the company's Vylla business unit, and as the Chief Marketing Officer of Ten-X and Auction.com. If you'd like to hear more about what happened in 2022, check out my 2022 year-end review with Rick Sharga. We discuss the ups and downs of last year's market, and what we think is important for investors to know about 2023. Join RealWealth and enjoy all the benefits of membership at: https://tinyurl.com/joinrealwealth Subscribe to the Real Wealth Show podcast: https://tinyurl.com/RWSsubscribe Thanks for listening! Kathy Fettke
As the Fed continues to raise interest rates to slow down a booming economy and unacceptably high inflation, there are a several questions on the minds of every real estate investor, including: 1 - Are we going into a recession?2 - Will there be a housing crash? How far will home prices fall?3 - Will there be more evictions and rent reductions?4 - Will we see an uptick in foreclosure activity?5 - Which markets will be more resilient?In this episode, our real estate guest expert will share some ideas on what he thinks will happen, and what investors need to know to be prepared.Rick Sharga has more than 20 years' experience in the real estate and mortgage industries and is currently the Executive Vice President of Market Intelligence for ATTOM Data Solutions which is a market-leading provider of real estate and property data. Rick has also served as Executive Vice President at RealtyTrac, as an EVP for Carrington Mortgage Holdings and Chief Marketing Officer of the company's Vylla business unit, and as the Chief Marketing Officer of Ten-X and Auction.com, the leading online real estate marketplace. He is one of the most frequently quoted experts on real estate, mortgage, and foreclosure trends by major media outlets. Join RealWealth here: https://tinyurl.com/joinrealwealthSubscribe to the podcast here (or on your preferred podcast player): https://tinyurl.com/RWSsubscribeFor more information, and to listen to more episodes, go to: RealWealthShow.com
Get your tickets to JHU- Jason Hartman University today, April 1 & 2, Friday and Saturday. Go to JasonHartmanLive.com NOW! Today's Flashback Friday is from episode 821 published last April 24, 2017. Big data is here, it's there, it's everywhere. Real estate investors should use it to their advantage. Tenants credit scores are easy to access and just a click away. In this episode, Jason unpacks recent headlines which paint a picture of the state of the economic mindset in the U.S. Articles about the future of the insurance industry, your 401k account and the current value of the housing market are all scrutinized and analyzed. He also offers up some recommended reading to those worried about the state of the environment. Key Takeaways: [02:28] Newser article The Key to Easy Life Insurance, a Selfie? describes the future of the insurance industry. [11:45] Jason's secret to aging well. [14:19] Jason remarks on the Wall Street Journal article Grab Your Pitchforks America Your 401k May Need Defending From Congress. [20:11] Recommended books on energy and environmentalism. [20:56] RealtyTrac article Are We Headed Towards Another Bursting Housing Bubble in 2017? [29:40] Headlines on the RealtyTrac site are telling about the state of the union. Mentioned in This Episode: Jason Hartman Creating Wealth Ep.#165 with Tony Alessandra Longevity and Biohacking Show RealtyTrac Venture Alliance Mastermind 3 Dimensions of Real Estate Articles & Books The Key to Easy Life Insurance, a Selfie? Grab Your Pitchforks America Your 401K May Need Defending From Congress Smaller, Faster, Lighter. Denser, Cheaper: How Innovation Keeps Proving Catastrophists Wrong by Robert Bryce The Bet by Paul Sabin Are We Headed for Another Bursting Housing Bubble in 2017? The WEALTH TRANSFER is happening FAST! Protect your financial future now! Did you know that 25% to 40% of all dollars ever created were dumped into the economy last year??? This will be devastating to some and an opportunity to others, be sure you're on the right side of this massive wealth transfer. Learn from our experiences, maximize your ROI and avoid regrets. Watch, subscribe and comment on Jason's videos on his official YouTube channel: YouTube.com/c/JasonHartmanRealEstate/videos Free Mini-Book on Pandemic Investing: PandemicInvesting.com Jason's TV Clips: Vimeo.com/549444172 CYA Protect Your Assets, Save Taxes & Estate Planning: JasonHartman.com/Protect What do Jason's clients say?: JasonHartmanTestimonials.com Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: JasonHartman.com/Fund Call our Investment Counselors at: 1-800-HARTMAN (US) or visit JasonHartman.com Free white paper on the Hartman Comparison Index™ Guided Visualization for Investors: JasonHartman.com/visualization Jason's videos in his other sites: JasonHartman.com/Rumble JasonHartman.com/Bitchute JasonHartman.com/Odysee
In this Real Estate News Brief for the week ending February 12th, 2022… the latest reading on inflation, home price growth, and foreclosures.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic NewsWe begin with economic news from this past week. The latest inflation report shows that consumer prices notched up another .6% in January. That brings the annual rate of inflation to 7.5%, which is the highest inflation we've seen in 40 years. Much of the increase is due to the high cost of food, energy and housing costs, which include rents. According to MarketWatch, Wall Street analysts only expected a .4% gain in January. (1)If you strip out food and energy for a core rate of inflation, it's at 6%. That's still twice the rate the Federal Reserve would like to see. Shawn Huss at Warsaw Federal calls inflation an “economic killer.” He wrote in an emailed newsletter: “It is a tax that does not get collected and if people believe prices will be higher in the future, inflation could become entrenched.” Huss also has some good news. He says that: “Inflation expectations for the future remain relatively low. The 10-Year Treasury breakeven rate, or what the bond market expects inflation to run on average over the next 10 years, is a relatively low 2.42%.”Jobless claims were down for a third week in a row. The Labor Department says there were 16,000 fewer initial state claims than the week before for a total of 223,000 applications. That's the lowest number we've seen since December. But the number of people already getting unemployment benefits stayed the same at about 1.62 million. Economists expect that fewer and fewer people will be collecting jobless benefits as the omicron wave diminishes. (2)Mortgage RatesMortgage rates are now at the highest level since the pandemic began. Freddie Mac says the average 30-year fixed-rate mortgage was 14 basis points higher last week, for a rate of 3.69%. The 15-year was up 16 points to an average of 2.93%. (3) Freddie expects the trend to continue because of the strong job market and the high rate of inflation, and says that that will probably take a bite out of homebuyer demand.In other news making headlines...Home Prices Higher in Q4Homebuyers are facing higher home prices as well, although home price growth is expected to slow down with higher mortgage rates. The National Association of Realtors says the median sales price of a home was 15% higher in the fourth quarter of last year, compared to the year before. That includes both new and existing homes. That figure is down slightly from a 15.9% year-over-year increase in Q3. (4)NAR tracked mortgage rates in 183 metros and says that two-thirds of them posted double-digit appreciation. That's making it tough on homebuyers. The report says that the typical monthly mortgage payment is about $1,240 which is about $200 higher than it was a year ago.NAR'S chief economist Lawrence Yun, says that many homebuyers are getting forced out of the market because of high home prices, but he also says that: “Home prices should begin to normalize later in 2022 as more homes come on the market.”More Foreclosure ActivityForeclosure activity is currently at its highest level since the start of the pandemic. ATTOM Data Solutions says it jumped 29% higher from December to January. That activity includes default notices, scheduled auctions, and bank repossessions. Year-over-year, they are up 139%. (5)RealtyTrac's Rick Sharga expects to see more increases throughout the year, but he also says: “It's likely that foreclosure activity will remain below historically normal levels until the end of 2022.” Back in 2019, foreclosure activity was about 60% higher.Sharga wasn't surprised by the January increase because foreclosures often slow down during the holidays and then surge a bit at the beginning of the year. He says: “This year, the increases were probably a little more dramatic than usual since foreclosure restrictions placed on mortgage services by the CFPB expired at the end of December.”Metros with the highest foreclosure activity include: Detroit; Atlantic City, New Jersey; Cleveland; Columbia, South Carolina; and Trenton, New Jersey.That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!To learn more about real estate investing, become a RealWealth member for free at newsforinvestors.com. You will have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.marketwatch.com/story/coming-up-consumer-price-index-11644498273?mod=mw_latestnews2 -https://www.marketwatch.com/story/u-s-jobless-claims-fall-for-third-straight-week-11644500332?mod=economic-report3 -http://www.freddiemac.com/pmms/4 -https://magazine.realtor/daily-news/2022/02/10/home-price-surge-continued-in-fourth-quarter5 -https://magazine.realtor/daily-news/2022/02/10/foreclosure-activity-highest-since-pandemic-began
Investors were busy in the second quarter of this year. They increased their share of purchased residential properties. But even though they bought more than consumers, they spent less. So where are these great deals? The RealtyTrac report has a few answers.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.RealtyTrac published the results of its analysis with data from its parent company, ATTOM Data Solutions. (1) It found that investor purchases accounted for 15.4% of all U.S. residential purchases in the second quarter of this year. That's up 3.9% from Q2 of last year when investors accounted for 11.5% of all home purchases. (2)If you compare Q2 to Q1 of this year, investor purchases were about the same. Although the numbers show a year-over-year increase, RealtyTrac's executive vice president, Rick Sharga, doesn't believe they represent a significant change of course. But, he says they do disprove the idea that investors are gobbling up too much of the inventory. He says: “Historically investors have always accounted for somewhere between 10% and 15% of residential home purchases, and our data shows that this is still the case today, albeit at the high end of that range. But the data doesn't support the ‘Wall Street is buying up Main Street' theme that's been a popular theory for the past year or so.”States Attracting the Most Investors ActivitySo where are investors placing their bets? New Hampshire tops the list, with Delaware, Georgia, Arizona, and Mississippi rounding out the top five. In the second tier is Florida, North Carolina, Oklahoma, Arkansas, and Nevada. Investor share ranges from 23.2% of all purchases in New Hampshire to 18.7% of purchases in Nevada.As for the ten states with the lowest share of investor purchases - Vermont tops that list, followed by Alaska, New Mexico, Montana, and Idaho. The other five states include Oregon, West Virginia, Wyoming, Washington, and Iowa. Investor share of purchases in Vermont are less than 1%, while Alaska is 1.9%. The share increases to about 11% for Iowa.Biggest Investor DiscountsSo what's this about buying more and paying less? RealtyTrac says that in the second quarter, investors paid an average of 29.4% less than your typical consumer. That's on a national basis among 38 states with full reporting data. Investors got a better deal, on average, in 33 out of 38 of those states. For investors, the median price of a home was $205,000. For consumers, it was $290.230.As for the states with the biggest investor discounts, Arkansas was number one. It had the highest investor discount at 76.9%. Michigan was next with a 60% discount to investors. Louisiana and Nebraska were both about 55%. West Virginia and Oklahoma were around 50%.Sharga is quick to point out that investors are not getting special treatment. They are just better shoppers. And, he says: “Another misconception is that investors are overpaying for properties, making it difficult for consumers to compete and artificially driving up prices. But successful investors tend to look for below-market pricing in order to make a profit…” Plus, many buy in cash, which often comes with a discount.In Q2 of this year, 79% of investor purchases were in cash compared to 69% for Q2 of last year. While that figure varies from state-to-state, the report shows that the share was more than 50% in all states, except for Alaska. There's a link to the RealtyTrac report in the show notes at newsforinvestors.com.You can also find out more about real estate investing at our website by joining RealWealth for free. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources. That includes experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.And please remember to hit the subscribe button, and leave a review! Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.realtytrac.com/newsroom/wp-content/uploads/sites/14/2021/10/Oct-21-RealtyTrac-RE-Investor-Purchase-Activity-Press-Release.pdf2 -https://www.realtytrac.com/blog/realtytrac-investor-purchase-report-fall-2021/
In this Real Estate News Brief for the week ending October 23rd, 2021... the Fed's new rate hike schedule, a new wave of foreclosures, and a rent growth surprise for some single-family homes.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week with comments from Fed Chief Jerome Powell. It looks like the timeline for interest rate hikes has been pushed up again. Last month, there was more of a debate as to whether it would happen in 2022 or 2023. Powell indicated that conditions for a rate hike would probably be reached next year. That includes the Fed's goal of maximum employment. The inflation requirement has already been met. That's when inflation remains above 2% for a sustained period of time. Powell also said that now is the time to begin tapering the Fed's bond-buying strategy. Policymakers will discuss a tapering plan next month. Jobless claims fell to a fresh pandemic low last week. There were only 290,000 initial claims for state benefits. Continuing claims also fell. They were down 290,000 to 2.48 million. (2) Millions of jobs are going unfilled, however, which is making it difficult for businesses to meet the demand for goods and services. That's also creating supply chain issues that are driving up prices, and inflation.Home buyers are going full steam ahead to lock in deals before mortgage rates rise any higher. The National Association of Realtors say that existing home sales were up 7% from August to September. That's a seasonally-adjusted annual rate of 6.29 million homes. (3) Part of that increase is due to more inventory, but NAR Chief Economist Lawrence Yun says that inventory was quickly gobbled up. On the other side of the housing supply issue, residential construction was down due to those supply chain issues, and a labor shortage. The government says that September home starts were down 1.6% compared to August, and that permits were down 7.7%. Multi-family permits were down the most. They fell 21% while single-family permits were down just 1%. (4) Despite all the headwinds that builders face, the National Association of Home Builders monthly confidence index shows an increase of four points to a reading of 80. Anything over 50 is positive. Although builders have to keep raising prices, they are encouraged that demand and home sales “remain strong.” (5)Mortgage RatesMortgage rates rose slightly this last week. Freddie Mac says the 30-year fixed-rate mortgage was up four points, to 3.09%. The 15-year was up three points, to 2.33%. (6)In other news making headlines…Foreclosures on the RiseForeclosure filings jumped higher in September, after pandemic-related moratoriums were lifted. ATTOM Data Solutions released its Q3 foreclosure report which shows that foreclosure filings were up 24% compared to August, and 102% from a year ago. (7)Economists have been predicting a spike in foreclosures, but RealtyTrac's Rick Sharga says: “Despite the increased level of foreclosure activity in September, we're still far below historically normal numbers.” He says they are almost 70% lower than they were before the pandemic. And light years away from the number of foreclosures in mid-2009.Foreclosure filings were approaching 600,000 per quarter back then. Currently, there are 45,500 filings for the third quarter of this year.Single-Family Rent GrowthSingle-family rent growth quadrupled in August. CoreLogic says the year-over-year rate of growth was 9.3%, and represents the fastest annual rent growth in 16 years. (8)The single-family category includes both detached and attached units, such as duplexes, triplexes, quadplexes, townhomes, row homes, co-ops, and condos. Rent growth spiked the most for detached homes. Annualized rent growth for attached units was 6.4% while the rent for detached homes rose 11.7%.The city with the highest rent growth was Miami. Rents in Miami were up 21.5%. That pushed Phoenix into second place for the first time in almost three years. Rounding out the top five are Las Vegas, Austin, and Dallas. New Forecast for Top Markets in 2022New forecasts are coming out about next year's hot real estate markets. PwC just released its 2022 Emerging Trends in Real Estate report. The report includes a top-10 list of highly ranked real estate markets for 2022. Several of them are also on our list of recommendations for single-family rentals. Those markets include Tampa/St. Petersburg, Charlotte, Dallas/Fort Worth and Atlanta.PwC is also recommending those cities, and others, for the construction of new homes. If you have been following RealWealth, you know that we have expanded our focus on existing single-family rentals to also include the construction of new rental homes. Our recommended markets include Charlotte, North Carolina; Cincinnati and Dayton, Ohio; Dallas, Texas; Park City, Utah, and several Florida markets.You can find out more by joining RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.marketwatch.com/story/feds-powell-says-elevated-inflation-could-last-well-into-next-year-11634917919?mod=economy-politics2 -https://www.marketwatch.com/story/jobless-claims-fall-to-pandemic-low-of-290-000-as-businesses-try-to-avoid-layoffs-due-to-labor-shortage-11634819765?mod=u.s.-economic-calendar3 -https://www.marketwatch.com/story/existing-home-sales-rise-as-some-buyers-are-motived-by-fomo-11634826649?mod=economic-report4 -https://www.marketwatch.com/story/construction-on-new-homes-slows-as-supply-chain-woes-hit-the-housing-market-11634647997?mod=economic-report5 -https://www.marketwatch.com/story/home-builders-grow-more-confident-in-spite-of-continued-supply-chain-headaches-11634565934?mod=economic-report6 -http://www.freddiemac.com/pmms/7 -https://www.attomdata.com/news/market-trends/foreclosures/attom-september-and-q3-2021-u-s-foreclosure-market-report/8 -https://www.corelogic.com/intelligence/single-family-rent-growth-approaches-double-digits/9 -https://fortune.com/2021/10/18/hot-real-estate-markets-2022-outlook-real-estate-buying-a-house/
Real estate investors have experienced some big swings in the market over the past decade. We've gone from dirt cheap foreclosures after the housing meltdown, to more difficult investing opportunities today. According to a new survey, that's discouraging many small scale real estate investors, but difficult doesn't mean impossible. It means you need to be flexible, adaptable, and smart about your choices.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Real-estate data company RealtyTrac conducted an investor sentiment survey among 300 real estate investors from across the country. (1) It shows that 48% of them feel that the investing environment is worse or even “much” worse than it was just one year ago. And it wasn't that much better a year ago. The same survey shows that 45% felt that way in 2020 during the first year of the pandemic.RealtyTrac defines small scale mom-and-pop investors as those who buy one to 10 properties a year. That includes people who flip homes and those why buy and hold them as rentals. RealtyTrack says 90% of the 19 million single-family rental properties in the U.S. are owned by smaller investors. It also says there are thousands of people flipping homes at a rate of about one a month, although they are facing more competition from iBuyers like Opendoor, Offerpad, and Zillow. Investor Sentiment SurveyThis is the second year in a row for the RealtyTrac Investor Sentiment Survey. RealtyTrac says that last year's survey was evenly split between flippers and buy-and-hold investors. This year, there were more buy-and-hold rental property investors. Researchers say that could be the result of market conditions which are reducing home-flipping returns.Previous research by RealtyTrac's parent company ATTOM Data Solutions shows that the typical gross-flipping profit was $67,000 in the second quarter of this year. That's a 33.5% return on investment compared to a 40.6% ROI for Q2 in 2020. It's also the lowest ROI for flippers since 2011. (2)RealtyTrac's survey found that real estate investors are most concerned about high home prices. That concern replaced lack of inventory as the biggest worry in last year's survey. Lack of inventory is now second on the list of concerns. Investors are also worried about the cost of materials and labor along with competition from regular homebuyers.RealtyTrac's Rick Sharga says: “Investors are more optimistic about the future than they are about current market conditions. But they do worry about inflation -- about 81% of the investors surveyed were concerned about inflation causing material and labor costs to rise, making affordability an issue for prospective homebuyers and renters, and increasing the costs of financing.”The survey also asked investors about their foreclosure expectations once government protections expire. About 30% of them expect foreclosures to return to a historical level of about 1% while 33% expect them to increase, but remain below the levels we saw during the Great Recession. Real Estate Investors Need to Shift FocusThe survey title suggests that “Real Estate Investors Have Soured on the Current Market.” I think a better title might be: “Real Estate Investors Need to Shift their Focus.” At least that's what we are doing at RealWealth.The market is changing, again. It's something that the market will always do, so investors need to be flexible and adapt to new conditions. The last ten or so years have been easy for real estate investors. We had a housing crash and dirt cheap prices. But those prices have been rising for a decade. So what now?Yes, it's harder to get inventory. One of our property providers says that foreclosure auctions have completely stopped so she's trying to build new homes for buy-and-hold rental investors, although that has its own challenges.We are in a new market cycle, so investors need to be more creative. In California, new laws have neutralized the idea of single-family zoning. You can now subdivide a single-family property into a duplex, or even a four-plex if the lot is big enough. Investors could live in one, and rent the rest. Short-term rentals could also work, if local laws allow them.California also allows in-law units or ADUs on single-family properties which is another way for property owners to create rentals. Creative Investing for Today's MarketMore creative investors might want to look at ways to help aging baby boomers who need assisted living, or younger professional who need a place to decompress. One of my friends is now turning high-end homes into rehab centers for individuals who need a get-away place to recuperate. Empty hotels could provide an interesting opportunity for apartment conversions. What should you look for? As you know, homes are selling quickly, but that's not 100%. You can look for higher-priced homes that have been sitting on the market for too long and negotiate the price tag. At RealWealth, our teams are helping builders buy land for the development of single-family rentals. By contributing to these projects at the beginning, we are also able to help builders understand the difference between a rental home and a primary residence in terms of design and materials. You can also learn more about single-family rentals by joining RealWealth for free. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources. That includes experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.You'll also find links to information about RealtyTrac's survey in the show notes. And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 - https://www.businesswire.com/news/home/20210929005109/en/Real-Estate-Investors-Have-Soured-on-the-Current-Market-According-to-the-Fall-2021-RealtyTrac%C2%AE-Investor-Sentiment-Survey%E2%84%A22 - https://www.attomdata.com/news/market-trends/flipping/attom-q2-2021-u-s-home-flipping-report/
Homeowner equity is the highest it's ever been. So, how do investors play in this market where demand for housing exceeds supply? If you want access to a database that covers 90% of comprehensive foreclosure information, you'll want to listen to this show! For more from guest Rick Sharga, visit www.RealtyTrac.com
Homeowner equity is the highest it's ever been. So, how do investors play in this market where demand for housing exceeds supply? If you want access to a database that covers 90% of comprehensive foreclosure information, you'll want to listen to this show! For more from guest Rick Sharga, visit www.RealtyTrac.com
The Power Is Now Media is conducting a series of interviews about the importance of Homeownership and Financial Literacy, during the month of June. Today Eric Frazier speaks with Rick Sharga, Executive Vice President of RealtyTrac.Our goal is to inspire and educate everyone about the wealth-building impact that homeownership can have on your life. Especially for low to moderate-income families, minorities, and African Americans who have the lowest homeownership rate of all minorities.Rick is the Executive Vice President of RealtyTrac, a leading foreclosure search and discovery website used by real estate agents and investors.One of the country's most frequently-quoted sources on real estate, mortgage and foreclosure trends, Rick has appeared on CNBC, CBS News, NBC News, CNN, ABC News, FOX, Bloomberg and NPR. Rick is a founding member of the Five Star National Mortgage Servicing Association, on the Board of Directors of REOMAC, and was included in the Inman News Inman 100, an annual list of the most influential real estate leaders in both 2013 and 2014.
In this episode of Bankcast, we talk with Rick Sharga, executive vice president at RealtyTrac, about the current state of home sales, housing prices, low inventory, construction supply bottlenecks and where we go from here as the pandemic wanes.
In conversation with Rick Sharga, Executive Vice President of RealtyTrac. Rick is the Executive Vice President of RealtyTrac, a leading foreclosure search and discovery website used by real estate agents and investors. One of the country's most frequently-quoted sources on real estate, mortgage, and foreclosure trends, Rick has appeared on CNBC, CBS News, NBC News, CNN, ABC News, FOX, Bloomberg, and NPR. Rick is a founding member of the Five Star National Mortgage Servicing Association, on the Board of Directors of REOMAC, and was included in the Inman News Inman 100, an annual list of the most influential real estate leaders in both 2013 and 2014. The roundtable panel is composed of VIP agents and brokers who are successful and have years of experience in the real estate industry. The goal of the Roundtable is to share market news, business and listings opportunities, mortgage and DPA programs, and marketing services that can help agents grow their business and better serve their clients.
Today's Flash Back Friday comes from Episode 421, originally published in October 2014. Investing guru, Bryan Ellis, editor of Bryan Ellis Investing Letter, joins Jason Hartman on today’s Creating Wealth Show to discuss some of the common pit-falls of investing, as well as to give some indication of the potential foreclosure rate. They consider the state of today’s smoke and mirrors economy and its impact on future investing and finances. Key Takeaways: 04.35 – The economy’s strength situation now seems to be a lot more regional than it was around 2007-2008. 05.30 – RealtyTrac’s announcement about foreclosures shows us that we can’t build a future without finishing what we started in the past. 06.15 – People’s three fundamental needs are the same as they’ve always been: food, clothing and shelter. 13.30 – We need the world to realize that the economy we’re running off is just smoke and mirrors. 17.30 – When the changes start to take place, huge inflation could be a very real possibility. 19.00 – Investment doesn’t have to be in stocks; it can be in real estate, or even just in commodities such as copper, steel, labour etc. 21.30 – Think of a deal from the most conservative standpoint you can, and ask yourself if it makes sense. 23.20 – A lot of people still haven’t realized that intellectual property could be the answer to successful investing. 25.00 – Many companies have a lot of intellectual property that they don’t even classify as such. 26.50 – The entire structure of this intellectual property set-up focuses on the presence of a third party. 29.30 – Ultimately, the fact still remains that the fundamentals are what matter. Website: www.BryanEllis.com www.JasonHartman.com/Properties
There’s a new plan brewing to help delinquent borrowers and prevent another wave of foreclosures. The Consumer Financial Protection Bureau wants to extend the foreclosure moratorium through the end of this year and is currently asking for comments on the plan. But does the CFPB have the authority to do this?According to the Mortgage Bankers Association, 2.7 million homeowners were in forbearance programs as of January 31st of this year. That’s down from a pandemic peak of some 6 million homeowners, but it’s a substantial number of homes at risk of foreclosure. Black Knight estimates the number of mortgages that are currently 90 or more days past due is about 2 million. And that’s about five times higher than before the pandemic began. The real estate data firm expects some improvement through the end of June, when the current foreclosure moratorium expires, but it expects that 1.8 million mortgages will still be seriously delinquent.The MBA says the delinquency rate for one-to-four-unit residential properties was 6.73% at the end of the fourth quarter. Black Knight says it fell below 6% in January, for the first time since the pandemic began. Although the foreclosure moratorium is currently set to expire in June, delinquent homeowners may have different dates for the expiration of their forbearance programs. Loans backed by Fannie and Freddie can have as much as one year of forbearance. Private lenders may have other options.Extending the foreclosure moratorium will give homeowners more time to work out a solution with their lenders. The CFPB is also proposing ways to streamline the process of getting homeowners out of forbearance and into other payment plans.The MBA’s CEO, Dave Stevens, feels the CFPB has gone beyond its authority in offering to extend the moratorium. Stevens told HousingWire: “My concern is that the bureau is overstepping its bounds and violating in essence agreements that have already been previously made.”He says that another halt on foreclosures could hurt the mortgage industry’s relationship with its investors, which servicers have worked hard to maintain. According to Black Knight, service providers have advanced investors $19 billion for delinquent mortgage payments during the last year. HousingWire also reports that lenders have already been doing a good job helping homeowners exit forbearance. It says that almost 86% of those who exited forbearance did so with a payment plan in place.Executive Vice President of RealtyTrac, Rick Sharga, says of the results: “I think the math speaks for itself how well the forbearance program has worked, and it’s one of the few times in my career that I have seen a government-initiated program adopted as well and executed as well by the industry as this one.”He doesn’t feel the same way about another foreclosure moratorium however. He says: “What they are doing is getting involved in a very complex process and it may be forcing servicers to violate covenants of the investor who bought the loan, and that’s the real challenge.”MBA President, Robert Broeksmit, is also citing some impressive numbers. He reportedly said in a recent article that mortgage servicers successfully helped 4.3 million Americans enter forbearance plans in less than 10 weeks. Broeksmit says: “The ability for the industry and mortgage servicers to overcome the obstacles created by COVID-19 will depend on our ability to work together.”The CFPB is proposing three actions to help borrowers impacted by the pandemic. The first is to grant borrowers more time, with a moratorium that runs through December 31st. The second is to give servicers a way to modify loans more quickly with less paperwork. And third, to improve communication with borrowers so they are aware of their options at the appropriate time. The public comment period runs through May 11th.You’ll find links to the CFPB’s proposal and other articles mentioned in this episode on the podcast player page at www.NewsForInvestors.comLinks:1 - https://www.housingwire.com/articles/does-cfpb-have-authority-to-postpone-foreclosures/2 - https://files.consumerfinance.gov/f/documents/cfpb_mortgage-servicing_nprm_2021-04.pdf3 - https://www.blackknightinc.com/black-knights-first-look-at-january-2021-mortgage-data/4 - https://www.mba.org/2021-press-releases/february/mortgage-delinquencies-decrease-in-the-fourth-quarter-of-20205 - https://dsnews.com/daily-dose/04-05-2021/cfpb-proposes-plan-to-avoid-foreclosure-surge
I'm joined by Rick Sharga of RealtyTrac, the countries leading expert on foreclosures, discussing what lies ahead as our government moratoria and forbearance programs expire. We are discussing topics from eviction moratorium, to foreclosures, to the crash in 08' and so much more!You do NOT want to miss this!Don't miss out on our daily news about the mortgage industry:https://mailchi.mp/shredmedia/riseandshred
On this episode of the podcast, Tim talks with his good friend Rick Sharga, Executive Vice President of RealtyTrac. They discuss the current market conditions that have resulted from the pandemic and the recession that followed, particularly how this recession is atypical and can’t necessarily be treated like previous ones. Rick talks about his outlook on the foreclosure environment and why data shows that there are not really as many people in serious delinquency as is being reported. They also talk about housing prices and walk through the presumptive President-Elect and Vice President-Elect’s proposed policies regarding the housing industry. This is a very informative session that you will want to be sure to tune in for! To view the slides from this presentation, please visit Tim's YouTube Channel or Facebook Page.· Foreclosureso Delinquency rates§ They are the highest they have been since 2009-2010§ However, all of the homeowners who are taking advantage of the governmental forbearance program are included in this number§ As soon as they set up a payment plan with their lender, they are removed from this list§ 70% of homeowners have more than 20% equity in their homes§ So they have a much higher likelihood of selling their homes than foreclosing§ This depends on demographics, demand, and interest rateso Sub-$250k homes are in higher demand now than ever beforeo There is a dichotomy in the workforce but both white-collar and blue-collar workers are looking to buy in this price rangeo The lower-middle class has essentially been neutralized in the homebuying process§ Entry and 2nd tier move-up properties are not availableo The housing industry crisis is really and affordability crisis· Biden Policieso $15,000 tax credit for first-time homebuyers§ A solution in search of a problem§ This will increase demand and drive home prices even higher§ More fees will be tacked on to Fannie Mae and Freddie Maco Homeowners Bill of Rights§ Modeled after California’s § Manifests as punitive§ Few people need this§ Missing a key component: protecting landlords· 85% of landlords own 2 units or fewer§ Doesn’t really affect hard money loans§ Could be helpful in low-income neighborhoods§ Key: in persistently underserved communities§ Provides loans to fix up the propertieso Public credit reporting agencyo Constructing affordable housing§ Will likely only help big developerso Industrial – finding holes in markets, cloud computingo Commercial – short-term pain for long-term progresso Hotels – currently at about 39% occupancy, will take a while to get them back on their feeto Retail – was already struggling, more bankruptcies, spaces could be repurposedo Office space – more people are working from home, but they also need more space per worker in-office· Predictions/Outlook for 2021o Depends on how soon we can get the virus under control and how the economy responds Connect with Rick:https://www.linkedin.com/in/rickshargahttps://twitter.com/rickshargaDecember 9th webinar: https://t.co/NXqDJ82Epf?amp=1
Rick Sharga, Executive Vice President of Marketing at RealtyTrac, talks with Jason Hartman about forbearances and foreclosures. Does one lead to the other, and how will this differ from the great recession? How has COVID-19 changed how millennials approach renting vs. buying? Rick Sharga also distinguishes between foreclosures and opportunities. Rick also gives an excellent insight into every sector of what he thinks is to be expected in the commercial real estate market. Key Takeaways: [1:00] Everyone is asking, "is Covid going to cause a housing crash?" [2:00] Covid has not slowed down the housing market even a little bit. [3:45] The pandemic accelerated millennials' trend to stop as urban renters and move to a place of homeownership. [10:30] The 2006 median price home was $650 more expensive than the median price home today, adjusted for interest rates and inflation. [12:00] Rick distinguishes between foreclosures and opportunities. [18:00] Will 3 million in forbearance programs end up in foreclosures? [21:00] What happens when all of these loans come out of forbearance? [26:45] Discussing California's new law that the institutional buyer cannot buy foreclosures. [28:45] We already see a higher number of commercial foreclosure properties popping up. [30:00] Rick breaks down his expectations for each sector of the commercial real estate environment. [33:30] One of the most significant shortages in housing is in the low price tiers. Here's why. Websites: RealtyTrac.com PandemicInvesting.com JasonHartman.com/Ask JasonHartman.com/Start JasonHartman.com/Recordings JasonHartman.com/Asset JasonHartman.com/Webinar JasonHartman.com JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Rick Sharga, Executive Vice President of Marketing at RealtyTrac, talks with Jason Hartman about forbearances and foreclosures. Does one lead to the other, and how will this differ from the great recession? How has COVID-19 changed how millennials approach renting vs. buying? Rick Sharga also distinguishes between foreclosures and opportunities. Rick also gives an excellent insight into every sector of what he thinks is to be expected in the commercial real estate market. Key Takeaways: [1:00] Everyone is asking, "is Covid going to cause a housing crash?" [2:00] Covid has not slowed down the housing market even a little bit. [3:45] The pandemic accelerated millennials' trend to stop as urban renters and move to a place of homeownership. [10:30] The 2006 median price home was $650 more expensive than the median price home today, adjusted for interest rates and inflation. [12:00] Rick distinguishes between foreclosures and opportunities. [18:00] Will 3 million in forbearance programs end up in foreclosures? [21:00] What happens when all of these loans come out of forbearance? [26:45] Discussing California's new law that the institutional buyer cannot buy foreclosures. [28:45] We already see a higher number of commercial foreclosure properties popping up. [30:00] Rick breaks down his expectations for each sector of the commercial real estate environment. [33:30] One of the most significant shortages in housing is in the low price tiers. Here's why. Websites: RealtyTrac.com JasonHartman.com/Ask JasonHartman.com/Start JasonHartman.com/Recordings JasonHartman.com/Asset JasonHartman.com/Webinar JasonHartman.com JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Rick Sharga, Executive Vice President of Marketing at RealtyTrac, talks with Jason Hartman about forbearances and foreclosures. Does one lead to the other, and how will this differ from the great recession? How has COVID-19 changed how millennials approach renting vs. buying? Rick Sharga also distinguishes between foreclosures and opportunities. Rick also gives an excellent insight into every sector of what he thinks is to be expected in the commercial real estate market. Key Takeaways: [1:00] Everyone is asking, "is Covid going to cause a housing crash?" [2:00] Covid has not slowed down the housing market even a little bit. [3:45] The pandemic accelerated millennials' trend to stop as urban renters and move to a place of homeownership. [10:30] The 2006 median price home was $650 more expensive than the median price home today, adjusted for interest rates and inflation. [12:00] Rick distinguishes between foreclosures and opportunities. [18:00] Will 3 million in forbearance programs end up in foreclosures? [21:00] What happens when all of these loans come out of forbearance? [26:45] Discussing California's new law that the institutional buyer cannot buy foreclosures. [28:45] We already see a higher number of commercial foreclosure properties popping up. [30:00] Rick breaks down his expectations for each sector of the commercial real estate environment. [33:30] One of the most significant shortages in housing is in the low price tiers. Here's why. Websites: RealtyTrac.com PandemicInvesting.com JasonHartman.com/Ask JasonHartman.com/Start JasonHartman.com/Recordings JasonHartman.com/Asset JasonHartman.com/Webinar JasonHartman.com JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
In this episode, Millionacres Editor, Deidre Woollard sits down with Rick Sharga, Executive Vice President at RealtyTrac, to discuss the current foreclosure market and what he and his team see as risks for the coming year.
FICO scores have hit a record high, but is a perfect FICO score the best situation? Jason Hartman discusses FICO scores along with vacancy rates. What looks the best may not be the best. Rick Sharga, Executive Vice President of Marketing at RealtyTrac, talks with Jason Hartman about forbearances and foreclosures. Does one lead to the other, and how will this differ from the great recession? How has COVID-19 changed how millennials approach renting vs. buying? Key Takeaways: [1:25] You are assisting with a fundamental economic concept called price discovery. [3:00] FICO scores hitting a record high? [5:00] Do you want a perfect credit score or an ideal vacancy rate? [12:30] Let's compare rent decreases of two-bedroom units. [16:50] Number of homes on the market is down 39%. Rick Sharga [18:00] Everyone is asking, "is Covid going to cause a housing crash?" [19:00] Covid has not slowed down the housing market even a little bit. [20:45] The pandemic accelerated millennials' trend to stop as urban renters and move to a place of homeownership. [28:30] The 2006 median price home was $650 more expensive than the median price home today, adjusted for interest rates and inflation. Websites: RealtyTrac.com PandemicInvesting.com JasonHartman.com/Ask JasonHartman.com/Start JasonHartman.com/Recordings JasonHartman.com/Asset JasonHartman.com/Webinar JasonHartman.com JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Rick is the Executive Vice President of Marketing at RealtyTrac, the country's leading provider of foreclosure information for investors, consumers, and real estate professionals.Talking point:State of the housing market and financial marketsWhere do you see interest rates going? They are at an all-time low. What's happening with the loans in forbearance What impact do you think COV19 in the Winter of 2020 and 2021 will have on the economy and real estate in general.What can we expect in 2021 with short-sales and foreclosures are there any reputable forecasts?What will be the impact on property values if foreclosures dominate the market?What should agents recommend when asked if buying or selling?How is technology changing the default servicing industryHow can agents prepare themselves for the future of real estate?
Daren Blomquist is a leading voice in communicating the trends of market - past, present, and future. He is all about the data and constantly researches to be able to make the best decision possible.Daren is Senior Vice President of Communications at ATTOM Data Solutions (formerly RealtyTrac), where he directs ATTOM Media, a division of the company that publishes original real estate reports sourced from the ATTOM Data Warehouse, the nation’s most comprehensive property database. ATTOM Media real estate reports are cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY.Daren has been quoted in hundreds of national and local publications and has appeared on many national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business and Bloomberg. Daren is also executive editor of the Housing News Report, a monthly newsletter published by ATTOM Data Solutions and named best newsletter by the National Association of Real Estate Editors in 2015 and 2016.For more info about Daren and to see some of his recent work, visit https://www.auction.com/inthenews See acast.com/privacy for privacy and opt-out information.
How would you like a little good news on real estate today? Goodness knows we're inundated with plenty of bad news these days. And it's not surprising. We’re navigating through a very unusual situation right now. And the "unknown" is generating a lot of fear and creating a lot of questions about when we’ll bounce back economically, and how the COVID-19 bug will change the way we do business and lead our personal lives. As real estate investors, we must also be prepared for changes in the housing industry and the lives of our tenants. Will the economy recover quickly? Will the housing market hold up? Will the jobs come back? What will tenants want and need in a work-from-home world? What about single-family rentals, Airbnb, and housing for students and seniors? There are a lot of moving parts, but our guest today joins me with years of experience in real estate and business strategy. Rick Sharga is the founder of consulting firm CJ Patrick. He’s also had high-profile positions at Auction.com, RealtyTrac, Ten-X, and Carrington Mortgage Holdings, and is frequently quoted by major media outlets. Today, he’ll share some valuable insights on how this pandemic will likely play out, and it’s not all bad news. Rick sees light at the end of the tunnel. Welcome, Rick. If you'd like to see which metros we think will recover the quickest, visit www.RealWealthShow.com.There you'll find detailed market data along with a list of rental property providers and property management companies highly rated by our members.
There are a number of websites you can visit to get community information when doing your research on a property. We will review 18 of them. them today coming up. Plus we are going to talk a bit about student loan debt. As a free service I’ll be sharing with you the ONE big tip to reduce or eliminate student loan debt. During this discussion I also share the best way to make money if you do not have a degree and the best way to make a lot of money if you do. Also in the news today is Rent Control. I’m likely to get on a little rant about this because rent control is not just a bad idea - it’s an evil scourge. The politicians who push for it have to either be complete morons or complicit in the evil scheme to damage or destroy urban life. And yeah, I might quit beating around the bush and tell you how I really feel about it. In fact, I think we should schedule a show on rent controls. I’ll put that on the list. How to contact us www.RogerBlankenship.com Facebook.com/flippingamericamedia Twitter and Instagram @FlippingAmerica Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. Sponsors American IRA: www.americanIRA.com Civic Financial: bit.ly/CivicFunding Announcements: Lunch with me every Wednesday. Baraonda My latest article in Forbes is out. bit.ly/findredeals. The FAN is here! Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy. Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think. Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm. News: Weekly mortgage demand is flat as interest rates hit the highest level in 3 months https://www.cnbc.com/2019/10/30/weekly-mortgage-demand-flat.html Rent control will kill multifamily real estate https://www.nationalmortgagenews.com/opinion/rent-control-will-kill-multifamily-real-estate Here Are The Countries On The Brink Of Recession Going Into 2020 https://www.forbes.com/sites/sergeiklebnikov/2019/10/28/here-are-the-countries-on-the-brink-of-recession-going-into-2020/#2c81edbb3017 How Real Estate Can Replace Student Debt With A Promising Post-Grad Position https://www.forbes.com/sites/forbesrealestatecouncil/2019/10/28/how-real-estate-can-replace-student-debt-with-a-promising-post-grad-position/#62a3daca205c RE Tech Review: Steps in DD C.L.U.E report - past insurance claims. Inquire about insurance (higher than normal rates = prior claim history) Run a Report, homedisclosure.com may be the best. Trulia is pretty good. Consumer businesses owned by ATTOM Data, got bought by Renovo in 2011 and changed name to ATTOM Data ATTOM sold in July 2019 to Lovell Minnick, a Private Equity firm Realtytrac.com https://www.realtytrac.com/ https://fitsmallbusiness.com/realtytrac-reviews-pricing/ https://www.yelp.com/biz/realtytrac-irvine https://www.consumeraffairs.com/housing/realtytrac.html?page=2#sort=recent&filter=none Really consistently terrible reviews. Could be reason for the name change? Homefacts.com bought by ATTOM Data in 2012 Provides interesting information about the home and the area. Crime and school information useful. Other items as well. Homedisclosure.com - Launched by RealtyTrac in 2016 You have to create a free account. Then you get all the same information as homefacts.com but in a more modern, appealing format. This one is truly useful. More Property research sites https://www.neighborhoodscout.com/search/location/2343996 https://spotcrime.com/ https://www.nso pw.gov/Error?aspxerrorpath=/en-US/Registry https://www.crimereports.com/?kbid=62548 https://www.mylocalcrime.com/?kbid=62548?kbid=62548 https://www.crimemapping.com/?kbid=62548 https://www.homesnap.com/ http://www.homegain.com/ https://www.areavibes.com/ http://www.greatschools.org/ https://www.streetadvisor.com/ http://www.realestateabc.com/index2.php https://www.homefair.com/real-estate/city-profile/ https://www.bestplaces.net/ https://www.safewise.com/ http://www.city-data.com/ https://www.walkscore.com/ Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message! Motivational Thoughts for the day “What’s the point of being alive if you don’t at least TRY something remarkable.” --Anonymous
Daren Blomquist, former Director of Marketing & Communications with foreclosure data giant RealtyTrac & Attom Data, and now VP of Market Economics at the leading nationwide seller of distressed housing - Auction.com, goes into what he looks for in areas of growth and decline, leading indicators, and even gives a "top 4 markets to invest in" and a "top 3 markets to be cautious of" - all backed by real data. And it's not even in a nerdy way, like we are used to! This is definitely worth a watch, and if you're so inclined, set up an account at Auction.com and take a look at the inventory available. To keep up with Daren's industry trends & updates check out auction.com/inthenews. Daren Blomquist is Vice President of Market Economics at Auction.com. In this role, Blomquist analyzes and forecasts complex macro and microeconomic data trends within the marketplace and greater industry to provide value to both buyers and sellers using the Auction.com platform. Daren’s reports and analysis have been cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY. Daren has been quoted in hundreds of national and local publications and has appeared on many national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business and Bloomberg.
How to set Offer Prices in House Mailers (HA 013) Steven Butala: Steve and Jill here. Jill DeWit: Hi. Steven Butala: Welcome to the House Academy Show, entertaining real estate investment talk. I'm Steven Jack Butala. Jill DeWit: And I'm Jill DeWit broadcasting from sunny, southern California. Steven Butala: Today Jill and I talk about how to set offer prices in house mailers. This is one of my favorite topics of all the episodes that we can do, because it's like cheating. Jill DeWit: I gotta ask you: how the heck are you going to cover this in a podcast? This is pretty in-depth, detailed stuff. So I can't wait to see what you're going to share with us. Steven Butala: I make it this part of this so easy it's silly. Jill DeWit: Ah. Steven Butala: I think it's easy, and we're getting a huge positive responses about how easy it is. Jill DeWit: Yes. We are. Steven Butala: Before we get into it, let's take a question posted by one of our members on the houseacademy.com online community. It's free. Jill DeWit: John asks, "What's a difference between DataTree and RealQuest?" Jill DeWit: This is great. Will you first define ... Steven Butala: Sure. Jill DeWit: Okay, thank you. Define the two companies- Steven Butala: There's three major data sources for real estate investors like us like for any real estate investor. And they all come from ... the source of the information comes from the county assessors. There's 3,144 county assessors that keep data on properties so that they can properly send tax bills out. Steven Butala: These three companies, DataTree, RealQuest, and TitlePro247 all are data aggregators. What's different about them is that they all include assessor data, but some of them pull in data from other places. Which makes it viable- Jill DeWit: More valuable. Steven Butala: Makes it viable. In DataTree's ... to answer your question, in DataTree's case, they pull in a tremendous amount of financial information that's very current in the format that we need it to send out a mailer. So that's great for houses. For land, there's more spatial ... there's a larger spatial data set which allows us to send offers to land owners, because almost all land owners don't have any debt. There's not a financial component. Steven Butala: And then TitlePro is built for title agents. So those data sets include a lot of title information to research properties. So when we send out land mailers, we use RealQuest. When we send out house mailers, we send use DataTree. And when that stuff comes back- Jill DeWit: We do our due diligence. Steven Butala: We do our due diligence with TitlePro247. We're licensed providers for all three. Jill DeWit: Right. I want to add in there ... when you mentioned the DataTree, which is First American Title's company, the financial component that he's talking about is all about mortgage lending, where they stand on it, how much the lender is- Steven Butala: How much they owe. Jill DeWit: ... how much they owe, how long they've had it. Steven Butala: Yeah. Jill DeWit: That's the tweak and why we use DataTree for house offers and why it's special. Steven Butala: They're both very ... we have a long history of [inaudible 00:02:58] success with all three, and now our members do. Land Academy members, House Academy members are proving our theory correct. Jill DeWit: Yeah. Steven Butala: So, you know ... Jill DeWit: That's what I love. I didn't mean to interrupt you, but- Steven Butala: No, no. I was done. Jill DeWit: One of the reasons that we're here is that ... for someone starting out on the industry ... God, we haven't said this in a while. But boy, I wish we had us. Jill DeWit: You know? When you're new in this industry, even if you know exactly what to do it's like, "Gosh, I need to get my hands on this stuff." And some of the stuff ... it's not readily available. You can't just go order it off the street. Some of these tools you cannot get. You have to be in the business ... like especially like the Black Knight Financial Services, TitlePro ... Steven Butala: Which is TitlePro. Jill DeWit: You know, that level ... everybody can get AgentPro247. Everybody can use a little scaled down mini version of what they think your top choices should be. Everybody can get ahold of that. But to have access to the back-end of everything that a title agent has, which we have and we share with our people, is huge. And that's one of the reasons I say, "I wish we had me. I wish we had us." Steven Butala: All three of these companies have cute little applications. Jill DeWit: Yes. Steven Butala: For your iPhone, for you. RealQuest that aren't ... you know, they're sending out 10 offers a day. Jill DeWit: Right. Steven Butala: You might be able to get away with having some limited success, but the people that are in our groups or have companies ... they're own investment companies. Jill DeWit: Yeah. Steven Butala: For RealQuest, it's ListSource. I get this question all the time. What's the difference between RealQuest and ListSource? Well, ListSource is at the back end [crosstalk 00:04:28] of ListSource ... Steven Butala: The back end of List Source is RealQuest Pro. If you're a real investor, you want RealQuest Pro. If you want to horse around it and see what happens, use ListSource. DataTree is as real as it gets. The back end of that is all of First American Title. And you can use that in many, many, many different ways. And TitlePro is actually for title agents. Steven Butala: So I guess what I'm saying is we're not horsing around. This is a good question. Actually, I don't remember ever getting this question before. Jill DeWit: Yeah? Steven Butala: Today's topic: how to set offer prices in house mailers. This is why you're listening. Steven Butala: So you got a big list of houses that you've gone through all the motions on. Let's say your list is 3,000 houses in a single zip code that you've chosen because the days on market are real low, and a bunch of other stats pass all your tests. And you're sitting staring at a thousand houses in your data set, in your DataTree dataset. How do you price them? You know who owns them. You know that they don't have any liens, you know that they don't have any mortgages, you know all this other stuff that's very, very ... well, it's imperative to getting the mailer yield that you want. You need to set a price that's going to A, not turn off the seller because it's so low. But B, not be over the retail value of the house. Because then what the heck is the use of that? Steven Butala: You want to buy a property under valued so it's enough to spark their interest, and catch them in a life situation where they're like, "You know, I know my house is worth 300 grand, but I'm happy to sell it to these guys for 250 because it's painless convenience fee." Steven Butala: So this is what we do. And this is to answer your question, Jill. How I can do this on the radio instead of doing it on the screen. Steven Butala: We've all gone to Zillow, Trulia, Redfin, RealtyTrac, all those sites to see the value of some piece of real estate. Whether it's your own house, your grandma's house, or something. And they all have algorithms that are assigned to their houses. So if you go to Redfin and look up an address, it might say $236,000 and 14 cents or some number like that. Redfin, same thing. Realtor.com, RealtyTrac, DataTree ... they all have an algorithm that generates, in their opinion, what that house is worth today. And it moves every day. All the time. Steven Butala: What we do is we line them all up in all 3000 lines. We put columns in for each one of those algorithms, and we input those, and then we divide by six. So all this power from these algorithms is in your hands now for you to decide what these assets are ... what their value is, and how much money you want to make. So now we have a number from all six of these algorithms. We divide by that number, and we apply ... we subtract $30,000, let's say. Because that's the profit margin we want to make. Or some number like that. Steven Butala: And it varies very much in different markets. In southern California here, the average house price is $800,000. We tend to make a little bit more than 30 grand. In an area like Phoenix, where the average price is 250,000 to 300,000 it tends to be a little bit less. In the center part of the country, I know people that regularly make $10,000 in, let's say, Kansas City on a deal very quickly. That is how you price mailers. House mailers. Jill DeWit: Thank you. What? You did a great job of explaining that. And then I was just thinking this is nothing that you should be doing one by one line by line yourself. This will take you a month probably, or longer- Steven Butala: Yeah. It's like doing your own offers. Jill DeWit: ... If you have a day job, could you imagine? So just to kind of give you a little insight as to how we do it, and how we can help you do it is that you can submit to us a data sheet to one of our companies ... 3000 of these, and wait about 24, 48 hours. Steven Butala: Yeah. Jill DeWit: And they'll send it back to you done. So just so you know ... I know what you just explained ... I love that you explained perfectly. Thank you very much ... exactly what goes into it. If I'm listening I'd be like, "Oh, this is great Steve, but how do I do it?" You know? Steven Butala: Oh, that's great Steve. Jill DeWit: That's great, Steve. Steven Butala: I don't have a month to do this. Jill DeWit: Thanks a lot. You know? I guess I'll get my kids on that. No, don't do that. Don't get your kids. Okay, Joey, you're on this one. Amanda, you're over here. Could you imagine if someone was doing that? I have six kids. I have them all ... that'd be like a sweatshop. Don't do that. Jill DeWit: But we can help you with that. Steven Butala: They'd run out of patience fast. Jill DeWit: Could you imagine? Steven Butala: No. Plus you don't know if it's right. Jill DeWit: That's true. Exactly. And one of them ... that's how you learn they're dyslexic because they keep moving the numbers around. Just kidding. That's what we do. We do a mass at a time. And you know, that's why we're here. We're going to get you there. We're sharing with you all the little tidbits, all the little nuggets of what goes into this for you to decide if this is what you want to do. And if it is, we'll help you get to our level. Steven Butala: There's a lot ... and you know, we have another land company. And there's a lot of art and feeling that goes into pricing land, but not with houses. It's really like our version of the easy button. I love doing land mailers, because I can tell you with a tremendous degree of accuracy how many things are going to get signed back- Jill DeWit: Land or houses? Steven Butala: With houses. Jill DeWit: Oh, with houses. You like doing houses for that. Steven Butala: Yeah. Jill DeWit: Yeah. Steven Butala: I mean, I love doing both. But house mailers it's like, "Yep, this is what's going to happen." Jill DeWit: Yup. Steven Butala: Hey, we know your time's valuable. Thanks for spending some of it with us today. Join us next time for the episode called: How to Choose a Good House Zip Code to Send Mail. Jill DeWit: And we answer your questions posted on our online community at houseacademy.com. It is free. Steven Butala: You are not alone in your real estate ambition. Steven Butala: You know, House Academy itself and its show is so new that I'm getting this core stuff out of the way. Jill DeWit: Oh, I like this. Steven Butala: Yeah. Jill DeWit: This is good. Steven Butala: Like, this is how you do it. Or how we do it. Jill DeWit: I love it. Steven Butala: So I know it might not be- Jill DeWit: Exciting? Steven Butala: The most exciting type of episodes for you to do, but thanks for your patience. Jill DeWit: You know what? If you're sitting in this, it is exciting. Seriously. It is for me. Steven Butala: Good. Jill DeWit: Wherever you're watching or wherever you are listening, I hope it's exciting. So please subscribe and rate us there. We are Steve and Jill. Steven Butala: We are Steve and Jill. Information- Jill DeWit: And inspiration. Steven Butala: ... to buy undervalued property.
How to Buy a House Cheap Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hello. Steven Butala: Welcome to The House Academy Show, entertaining real estate investment talk. I'm Steven Jack Butala- Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California. Steven Butala: Today, Jill and I talk about how to buy a house cheap. Jill DeWit: This is episode zero. Steven Butala: This is episode zero of our new House Academy Show- Jill DeWit: I love it. Steven Butala: And in a strange but not unplanned way, we're about to record episode 1000 this week for our Land Academy Show. Jill DeWit: Yes. How funny is that? Steven Butala: When you see all those goose eggs up there... when I see them I'm like, "Are these guys brand new?" Jill DeWit: Exactly. Steven Butala: "Another real estate show?" Jill DeWit: Here we go. Steven Butala: It turns out Jill and I have combined tons and tons of experience. Since the '90s, we've been buying and selling real estate. Lots of land and lots of houses and we've had a company called Land Academy for years, since 2015. Incredibly successful. Our members buy and sell land right alongside us. At their urging, we started this company called House Academy and, consequently, this podcast. Jill DeWit: It's because we've been buying and selling houses at the same time, people got wind of it, and now we're here sharing that with everyone. What's next? Who knows? Steven Butala: Our whole approach is very different. If this is the first time you've ever listened to any of these shows, our approach, it's worth listening to. Our approach is very, very, very unique and we offer a lot of tools and a lot of membership things that are quite honestly changing people's lives. Jill DeWit: Well, it's access to professional-level tools that you can't get in other places. That's the reality. It's like if you're new in our world and you don't have the connections or the money to access some of the assessor data and other things that we'll talk about as these shows progress, it's hard to get started and so that's why we created House Academy so you not only have access to all of that, but then you've got the inside information of our years of doing it so we can help you ramp up quickly. Steven Butala: We're the only licensed providers of all three major assessor database data companies- Jill DeWit: That's true. Steven Butala: And because we negotiated a fantastic deal with all these companies, it's very, very [crosstalk 00:02:17] inexpensive to use them. Jill DeWit: Exactly. Steven Butala: We own our own mail company and there are a lot of different professional-grade tools that high-level commercial real estate acquisition people use every single day through us, so this is not a startup or a run-of-the-mill "I wonder what these schmoes have to say?" There's none of that going on. Jill DeWit: Who is the schmo?" Steven Butala: "Well, I wonder what that schmo is doing with that woman? I wonder what she [crosstalk 00:02:43]- Jill DeWit: "Why is that schmo talking like that?" Steven Butala: Before we get into it, let's take a question posted by one of our members in the houseacademy.com online community. It's free. Jill DeWit: Jeff asked, "How long does it take to find a house to buy?" Steven Butala: How long does it take, Jill? Jill DeWit: Days/weeks. It's just getting the offers out. Steven Butala: Here's my question, Jeff. Jill DeWit: That's it. Steven Butala: Do you really just want to buy one house? Jill DeWit: That's true. Steven Butala: It's all a system. Jill DeWit: That's true. Steven Butala: For every 3,000 offers that we send out via direct mail, and how we do it is a very sophisticated mail merge type thing, sophisticated but not difficult, mail merge scenario, for about 3,000 if you do it correctly, you're going to buy a house at about 70 to 75% of its current value. Not ARV. We're going to... Jill DeWit: We'll have a whole week on ARV. Steven Butala: Yeah, and why you should never even say that. In fact, I'm not going to say it again. We don't [crosstalk 00:03:42]- Jill DeWit: It's so funny. Steven Butala: We as residential real estate investors don't presume what the people we sell it to can sell it for. We can tell with an incredible amount of accuracy, let's say it's worth 300,000 bucks and we want to buy it for 260, that's the business we're in. How long does it take to buy a house? You set the system up, you learn how to do it right, and from the time that you get the direct mail campaign... it's an offer campaign, it's not, "Would you like to buy this house?" It's none of that. Jill DeWit: Right. No postcards. Steven Butala: It's, "Hey, John Smith, homeowner 123 [crosstalk 00:04:22]- Jill DeWit: Post sticky notes- Steven Butala: "Main Street. We want to buy your house for 280,000 bucks. We can close in a couple of weeks and here's why and how to do it. Here's all the other properties that we've dealt with and here's our whole group. This is for real. We're real people." It takes about two or three weeks for the offers to get right in front of that owner, and then from there it takes less than 30 days, cash in, cash out. Jill will explain when we talk about how to buy a cheap house here in the meat of the show, explain how to get financing and all that other stuff. Of all the things that you've ever incurred, all the issues you've ever incurred, bottlenecks in buying and selling real estate, we've seen it all. Jill DeWit: I agree. Steven Butala: If we haven't, our members have and we can call them. Jill DeWit: Thank you. Steven Butala: Today's topic, how to buy a cheap house. Jill DeWit: This is why you're listening. Seriously. Steven Butala: It sounds a little different. We're getting used to it, too. Jill DeWit: Totally. You want to talk how to buy a cheap house? Steven Butala: Well, like I alluded to in the question, it's all in a system, and so I'm not sure why anybody would want to buy just one cheap house. Jill DeWit: True. Steven Butala: Maybe four- Jill DeWit: Somebody do. Wait a minute. We have people in our world that do that, by the way. Steven Butala: Just buy one cheap house- Jill DeWit: Time out. Steven Butala: And that's it Jill DeWit: Let me just tell you, coming from my side of the business over here where we do sales and programs and all that stuff, we really do have people that come in that they only want to use our program to buy their dream cabin or their dream ranch or their dream place to park their RV or hunt or fish or whatever. There is some of that going on, so you can use this, but what's great about it is you can use our tools and resources and spend your time and find your three favorites and then drive your wife out there and pick the one you want to buy. That's what some people do. Not to change your whole thing, but I'm just being honest. That's what some people do and then you just say "thank you". Jill DeWit: What often happens is, which is kind of funny, we've had people that started down this path and the next thing you know they're like, "You know what? Actually, that wasn't that hard. I picked the one I want and I bought three more and now I'm just selling them because you guys taught me how to do that. Now, that's going to pay for the one I just bought." That can happen, too. Steven Butala: Exactly. Here's how you buy a cheap house step by step. If you're a note taker, this is the time to take notes. You always laugh when I say that. Jill DeWit: I don't think anybody does. They have recorders. They do screenshots anymore. I don't think anybody really takes note. Steven Butala: You don't think they take the lead of the pencil and- Jill DeWit: No, I'm... Steven Butala: Tap it on their tongue. Jill DeWit: I'm very sorry to break that to you. You know it's 2020 next year. Steven Butala: I'm very aware of that. Jill DeWit: Okay, thank you. Steven Butala: You have to choose a market first, and so let's say you choose a market like Mesa, Arizona. I'm just going to use a random example. This works in every single market that there is and here's why. There's 10, I just happen to know this, but there's 10 zip codes in Mesa, Arizona, and you want to take all the zip code data from that existing market, all 10 zip codes, and look at... line it all up on a spreadsheet. Look at days on market, month-over-month days on market, new properties listed to sold. Steven Butala: There's a bunch of statistics that you want to look at and you want to pit these zip codes against each other. One is going to come one or five or three or some number of those 10 zip codes is going to jump out at you and it's going to say something like this. "Well, this zip code, the average days on market last month, were 15. All the rest of these zip codes are 40, 30, 80, 70." Jill DeWit: Exactly. Steven Butala: I like lower days on market. There's several statistics you look at. How many properties are listed that month? How many properties were sold? You can take, if you're the data crazy type person, you're going to love this part of it. I personally love this part of it, and you're going to see that there's three clearly, in all these statistics you look at, three zip codes that really work. We call that The Red Green Yellow Test, or Red Yellow Green, Green Yellow Red, everybody uses a different [crosstalk 00:08:38]- Jill DeWit: I know. Steven Butala: When they ask in our group. Jill DeWit: Exactly. Steven Butala: That's number one. Now, you've got three zip codes to send offers to. You pull the data and you got to make sure you get the mortgage data with it and all that, which we've made that incredibly simple. Step one is to pit these zip codes against each other. Step two is to pull the ownership data of all the house owners. Jill DeWit: Which we supply. Steven Butala: You want [crosstalk 00:09:04]- Jill DeWit: It's through DataTree. We use DataTree [crosstalk 00:09:04]- Steven Butala: DataTree. Yes, we're [crosstalk 00:09:05] licensed providers of DataTree. Jill DeWit: It's no secret. Steven Butala: The assessed data, and then it's got mortgage data and a bunch of other sources of data in it as a line item, and then you scrub that data down and take out the things that you don't... who logically shouldn't get an offer. One of the first things I do is scrub the data down. I remove everybody with a mortgage. That's just how we do it. We have several members who have different concept about that and different methodologies, but it ends up taking about half the data out. Now, my strike percentage in this mailer is going to get great. It's going to get better and better and better with each step from this point forward. Steven Butala: You've already taken out the seven worst zip codes in Mesa. You're working with the three best zip codes. Now, you're only working with the people who don't have a mortgage. Now, let's take it a couple of steps further. There are people who have LLC-owned properties in that market. You can choose to just send it to them. We choose to send it to just about everybody who doesn't have a mortgage and just kind of see what happens because the data is real cheap. We've made it cheap for you. Then, and here's the key to how to buy a cheap house, you take all the algorithms and line them up in a line item for realtor.com, redfin.com- Jill DeWit: Zillow. Steven Butala: Zillow, Trulia, DataTree- Jill DeWit: Redfin. Steven Butala: RealtyTrac. There's [crosstalk 00:10:25] five or six of them, and you literally input. There's lots of different ways to do it. Input those fields and price with what you think that house is worth right now or what all these incredibly [crosstalk 00:10:37]- Jill DeWit: Average- Steven Butala: And complicated... Yeah, exactly. If Zillow and Redfin and Trulia, all those, the rest of them are coming in and you average all six of them out and it comes up with a number like $278,000, that's what the market really believes that that property is worth right now. You have to decide what type of profit margin you'd like to price and send them an offer below that number. Arbitrarily, let's just use $30,000 or $40,000. They're going to get an offer for 30, 40, or $50,000 below what all of those algorithms believe that property is worth, which by the way, that's why we take... it's taking a big example. If you're a statistical person, it's a huge chance that this is going to be very, very correct, Jill DeWit: It's a couple thousand. Let me just make sure. It's not 100 or 200, it's thousands. Steven Butala: Thousands. Jill DeWit: Don't worry, we're not asking you to sit and go, "Are you proposing that I take 5,000 ownership scenarios and input six lines and look them all up?" Nope, we have a solution with that, and we'll talk about that [crosstalk 00:11:47]- Steven Butala: It's very correct. Jill DeWit: At another time. Steven Butala: We make it... This whole thing [crosstalk 00:11:47]- Jill DeWit: We handle that for you. Steven Butala: Done correctly, this whole thing may be able to take you an hour if you're really going slow. Now, you've got it correctly priced. You've got, like Jill said, there's 5,000 logical candidates in there, and we own company called Offers 2 Owners. You get all that to them- Jill DeWit: They do the data and put [crosstalk 00:12:07]- Steven Butala: And they get it in the mail for you. You will buy a house, and we've proven it over and over and over and over again. Jill DeWit: Let me back up on the one piece that that was just saying you know the price. What Steven was saying is, you have all this information and what you're doing is you're actually using that. You took their $270,000. You was like, "Hey, I'm happy to make $30,000 and get out because I want to pass it on to the next guy", which is what you're trying to do here. That owner is going to get a real strategic offer from you for $248,962.21 and you're ready to close in 10 days. You're all cash. We'll go into that more later and that's how it goes. That's what you're sending them, not a postcard, not a "Hey, whatever", even though [crosstalk 00:12:56]- Steven Butala: You're sending them an offer. Jill DeWit: You're sending them an offer, so when they're opening up your... it's an offer in the mail and they know what you're willing to spend. The key for me is, they know where you stand and you know when they reach out to you that they're not just going to throw you a random number. "Yeah, I want to sell. I think it's worth half a million." We'd never want to go there. That's what this is weeding out and that's why this is so important. Steven Butala: It's really efficient. Our ways are very [crosstalk 00:13:25]- Jill DeWit: Very efficient. Steven Butala: Very efficient. Jill DeWit: You got to have [crosstalk 00:13:27]- Steven Butala: What you never want to do [crosstalk 00:13:27]- Jill DeWit: Data cheap, and you got to have all the... you got to get all the information cheap. You have to have cheap mail, and we have all of that figured out, so that's why this works. Steven Butala: In my opinion, what you never want to do is send a letter of interest, which is really why I think there's a lot of confusion out there about direct mail, why some people have not experienced the success that we have using direct mail because I think they send letters of interest. "Hey, I'm really interested in buying your property located at 123 Main Street. Why don't you give me [crosstalk 00:13:56] a call?" Jill DeWit: Some just say, "Hey, dear customer, I'm interested [crosstalk 00:13:58] in buying- Steven Butala: Dear resident. Jill DeWit: Or homeowner [crosstalk 00:14:02]- Steven Butala: Postcards or all that stuff, so if you've had a bad experience with direct mail or you've heard somebody talk about it that way, these are direct offer campaigns. It's different than direct mail. Jill DeWit: Exactly. Steven Butala: From there, here's a great new suit. You bought a [inaudible 00:14:18], it's real inexpensive. The three best zip codes in Mesa. Everyone who owns a house in an LLC or owns multiple properties or is got a dumpster in front of their house, which we'll talk about in a couple of episodes, those are the people that are going to buy the house. There's not this mystery of let's see what's going to happen. Jill DeWit: I love it. I think we explain how to buy it cheap. Coming up in a few shows, we'll talk about what to do with it, how to close on the deal, where your buyers are, all of that. Steven Butala: Well said. Jill DeWit: Thank you. Steven Butala: Join us next time for the episode called Why Steve Butala and Jill DeWit Started House Academy. That's us. Jill DeWit: We answer your questions posted on our online community at houseacademy.com. It's free. Go get an account. Steven Butala: You are not alone in your real estate ambition. Jill DeWit: Sorry, I [inaudible 00:15:13]. You were going to keep on going and I'm like, "Hey, this is only episode zero. We have a lot to say. He's going to say, 'Episode zero is going to be four hours long', and we're just going to talk about everything", but no, we won't. I know you're excited and I'm glad. Steven Butala: Exactly. Jill DeWit: By the way, I'm excited. Wherever you're watching, wherever you're listening, please subscribe and rate us there. We are Steve and Jill [crosstalk 00:15:37]- Steven Butala: We are Steve and Jill. Information- Jill DeWit: And inspiration- Steven Butala: To buy undervalued property. If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one. If you have any questions or comments, please feel free to email me directly at steven@BuWit.com. The BuWit Family of Companies include: https://BuWit.com https://offers2owners.com https://landinvestors.com https://houseacademy.com https://landpin.com https://parcelfact.com https://countywise.com https://deedperfect.com https://houseacademy.com https://ownersdata.com https://houseacademy.com I would like to think it’s entertaining and informative and in the end profitable. And finally, don’t forget to subscribe to the show on iTunes.
FAR 173 Expected Air Date: 7/23/18 Opening What are the guiding principles you use in your investing activity? We all think about returns, but do you consider other data points as well? Ok, some of you right now are asking, “what other data points?” If you are looking at a property to buy and hold and you are only looking at cash flow or only looking at capitalization rate, or only looking at net income, you are not looking far enough. Even if you are considering all three of those, and they ARE separate numbers btw, there is much more to consider. You need to think about the area, the past trends, the future projections, infrastructure, employment opportunities, and much more. So you need data. If you listen to the show much you know that our analysis is data driven. And we look behind the data for assumptions, theoretical models, and the methods used to combine data to reach conclusions. I realize that not all of you listening to this show can be that much of a nerd. It’s ok. We get our hands a little nerdy around here sometimes so we can help you make the best decision possible. That means we have sources for our data. One of our favorites is Attom Data Solutions. Coming up in a few minutes I have Daren Blomquist, Executive VP for Attom Data and we are going to bless your life with a little data talk. Now before you turn this off and switch over to yet another rerun of Gilligan’s Island or Big Bang Theory, let me tell you a few things we are going to be talking about. Attom data is the same company formerly known as RealtyTrac.com. That means they are experts on foreclosure data. We will talk about that. Want to know about crime rates in a prospective area? How about information about the particular property and its history? They’ve got those. Want to know what a neighborhood is like? Income level, percentage of college grads, crime rate, and more? They have it. Want some juicy stats on investor activities? Done. How about a list of distressed or potentially stressed properties? Where do you think the list brokers get theirs? Yeah - go straight to the source and we are going to tell you how. We are going to tell you how to get your hands on their Bi Annual Report on Single Family Rental Home prices. And you don’t want to miss this part -- in the last segment I ask Mr. Blomquist to look into his crystal ball and tell us what he sees happening with housing prices and the markets. His answer is coming up! With RealtyTrac since 2001, Daren Blomquist has been instrumental in many facets of the company’s business as it has transformed into the industry leader it is today. In addition to being one of the company’s longest-term employees, Daren is RealtyTrac’s primary media spokesperson and resident go-to expert on foreclosure statistics and trends. Daren is also managing editor of the company’s monthly newsletter, the Foreclosure News Report, which was named the “Nation’s Best Newsletter” by the National Association of Real Estate Editors, and is directly responsible for the creation of the company’s U.S. foreclosure market and sales reports, which are cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY. How to Reach us www.flippingamericanetwork.com Facebook.com/flippingamericamedia Twitter and Instagram @FlippingAmerica YouTube: bit.ly/FlippingAmericaOnYouTube Linkedin: bit.ly/FlippingAmericaOnLinkedIn We now have a profile at houzz.com for what it’s worth. Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. Announcements: Lunch with me every Wednesday. Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think. Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm. Guest: Daren Blomquist www.Homefacts.com www.homedisclosure.com www.Realtytrac.com Check out the Neighborhood Index. Look up Flip Transaction Data Read the Bi-Annual Report on Single Family Rental Home Prices Topic: Flash in the Pan Flash in the Pan: https://www.phrases.org.uk/meanings/flash-in-the-pan.html Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message! Emails: Questions@flippingamericaradio.com Tell us where you’re from! Alissa, Grand Rapids MI, “What do you do for security in your fix and flips? I have one in a marginal area and I’m a bit worried about materials left on site and basically the house itself.” Motivational Thoughts for the day “It doesn’t matter how slowly you go as long as you do not stop.” -Confucious.
Last month, ATTOM Data Solutions released its Q3 2017 Single Family Rental Market report. The report identified the top 25 U.S. zip codes for buying single family rental homes based on potential rental yields and cash flow, vacancy rates, home price appreciation, population growth, neighborhood quality, and average property age. Joining the podcast to discuss the report is Daren Blomquist. Daren is Senior Vice President of Communications at ATTOM Data Solutions (formerly RealtyTrac), where he directs ATTOM Media, a division of the company that publishes original real estate reports sourced from the ATTOM Data Warehouse, the nation’s most comprehensive property database. Daren is also executive editor of the Housing News Report, a monthly newsletter published by ATTOM Data Solutions and named best newsletter by the National Association of Real Estate Editors in 2015 and 2016.
Gentrification. Housing Bubbles. Developers & Their “Pay 2 Play” Campaign Donations (Bribes) to City Council Members. And then there's the needless cruelty of permanent homelessness. On this episode, Jesse & Matt ratchet-up their manifesto on their Mixtape for the Future by talking about the second-most important cornerstone of The Golden Square: namely, the universal right to human shelter. While a good deal of the debate and conversation will provide a clear-sighted and information-packed survey on the problems, causes and solutions involved with creating universal rights to housing, Matt & Jesse will also expand past common notions of shelter that often go unnoticed in the popular conversations found in daily rituals. And in doing so, the co-hosts hope to transcend the blind and abject observations from America's TV-Clown punditry on housing. Mentioned in this episode: Prashant Gopal in Bloomberg: “Homeownership Rate in the U.S. Drops to Lowest Since 1965” After the Recession, Blackstone and Other Hedge Funds Are Big Buyers of Domestic Homes: The Real News Network's “Another US Housing Bubble?” Is Employment Actually Up? Birth/Death Statistics from the America's Department of Labor Hilary Osborne in The Guardian: “Home Ownership in England at Lowest Level in 30 Years as Housing Crisis Grows” BBC: “General Election 2017: Labour Pledges to Build 1M New Homes” David Harvey's RSA Animate: “Crises Of Capitalism” NPR's Terry Gross Interviews Historian Richard Rothstein: The American Government's Horrific Racism in Housing: From Blockbusting to Covenants and the GI-Bill's “Whites-Only Housing Loans” Median Home Prices in San Jose Versus Median Home Prices in Youngstown Poppy Noor's Guardian Editorial: “Utopian Thinking: Free Housing Should Be a Universal Right” MintPress News: “Empty Homes Outnumber the Homeless 6 to 1, So Why Not Give Them Homes?” Lack of Resources to Accurately Count Increased Homelessness in Riverside County & The Inland Empire The Los Angeles Times' 2017 Report Housing Insecurity: “L.A. County Homelessness Jumps a Staggering 23% as Need Far Outpaces Housing, New Count Shows” The Los Angeles Times: An Interactive Map of Homelessness in L.A. County (2015) Mela Megat in The Highlander: “UCR Takes Steps to End Food Insecurity Among Students” Rosanna Xia in The Los Angeles Times: “1 in 10 of Cal State Students Are Homeless, Study Finds” Matthew Snyder's Darkly-Lit Snark: "O Great: Amber Alert for the Homeless" Ken Ilgunas, Duke University Student: Walden on Wheels: On The Open Road from Debt to Freedom The New York Times' Feature Article on Ken Ilgunas: “When Home Is a Parking Lot” Twitter Page Dedicated to Millennials' Experiments with #Vanlife Part II of Matthew Snyder's Darkly-Lit Snark: "Make Millennial Poverty Hip Again" Wikipedia's Historical Overview of the “Rent Is Too Damn High Party” Wikipedia's Biography on the Founder of the “Rent Is Too Damn High Party,” Jimmy McMillan: “An American political activist, perennial candidate, karate expert, and Vietnam War veteran, as well as a former postal worker, stripper and private investigator from Brooklyn, New York.” Percentage of Rent-controlled Homes in Los Angeles City The Guardian's Major Reveal: the Panama Papers and the Explosive Investments (by Wealth-Squatters) Discovered in the Big City Real Estate Market of London Varying LA City Propositions to Deal with Both Housing and Homelessness: The Los Angeles Times' Editorial Board and Their Op-Ed Against Measure S The Los Angeles Times' Editorial Board's and Their Support for Measure H The Los Angeles Times' Explores Measure S Versus Measure H Joshua Bregman's June 1st, 2017 Facebook Post on LA's Housing Crisis: “This is one of the bluest cities in one of the bluest states in the country. This place is run by Democrats and has been since forever. This has nothing to do with Republicans or Trump. We've got high-rise luxury condos sprouting up all over Downtown that no one actually lives in. Massive gleaming skyscrapers sitting there empty while more and more people are forced out of doors. This is a disaster. I've been to developing countries that have less people living on the streets than the second-largest city in the wealthiest country in the world. So here's a proposal: how about not another goddamn viral clip, or tweet or magazine cover or open letter or vacuous emission of another goddamn celebrity or late-night comedian or entertainment industry luminary talking about Trump or Russia or “backwards ignorant America that votes against its own self-interest” or cracking jokes about the racist, sexist rubes that live out in the sticks until this shit is fixed? Do you seriously think this shit is not racist and sexist? How about not getting to be in the 1%, or even the 10%, to drive past literal tent-encampments on your way to work, to step over the dispossessed just moments before they turn on your spotlight and soundcheck your mic, and have a goddamn thing you have to say about politics and society get listened to? How about not getting to publicly opine about national, much less geo-politics until you can figure out how your own city council works and you drag your camera crews to right outside your studio doors and show the world what's going on in America in 2017, in one of the "strongholds" of "the resistance"? How about that?” How Police and Firefighter Unions Take Precedence Over City Housing Budgets The Los Angeles Times: Housing Developers Own City Councils Via Campaign Donations, But That Should End Excerpt from Jake Halpern's Fame Junkies: How Martha Stewart's Insider-Trading Scandal (130 minutes) Dwarfed the Coverage of the War in Darfur (26 minutes) UN Report (2005): A Shocking 100 Million People Are Homeless in the World & Over 1 Billion Humans Face Inadequate Shelter Slate Magazine: How, in 2005, the Bush Administration Made Student-Debt Forgiveness Nearly Impossible (*Hint: Banks Lobbied Politicians) Vice: American Students, Debt Ridden, Now Flee to Europe to Avoid Loan Repayments Powerful Youtube Clip from 99 Homes -- Michael Shannon Spits Out the Truth to Andrew Garfield About How America “Always Bails Out the Winners” Ramin Bahrani's 99 Homes: A Film About the US Recession and Its Epic Housing Foreclosure Crisis The Big Short: Michael Lewis' 2011 Book & Its Later 2015 Film Adaptation Background on the NINJA (or NINA) Loans: “Non Income No Asset” How the Repeal of the Glass Steagall Act Magnified the Great Recession's Reach Why Infrastructure Is Equivalent to Shelter: Its Benefits to Slum-Dwellings Clothing as Shelter Time Magazine: “Japan's Earthquake and Tsunami Warning System Explained” California Senate Leader, Kevin de Leon, Calls California the 5th Largest Economy After Britain's Brexit Vote The 2017 ASCE Infrastructure Report Card - America's Cumulative GPA Is Once Again a D+ An MIT Study, By Economist Peter Temin, Says America Has Devolved into a Developing Nation Instead of Looking More Like Europe's Infrastructure Peter Temin's The Vanishing Middle Class: Prejudice and Power in a Dual Economy America's Stunning Incarceration Rates: The United States Has 25% of the World's Total Prison Population Even Though the U.S. Only Makes Up 5% of World's Human Population Jake Blumgart in Slate Magazine: “How Bernie Sanders Made Burlington Affordable” The National Community Land Trust Network: FAQ - What Is a Community Land Trust? There Are Over 250 Community Land Trusts (CLTs) in America The Common Good Podcast: “Episode 8: Community. Land. Trust” (Interview with Two Key Players in San Diego's First Land Trust Association) -{Matthew Snyder's Essay on “The Circle-Jerk of Gentrification” (Forthcoming!)}- The Village Voice: “National Punch a Hipster Is Tomorrow, Apparently” Peter Frase in Jacobin Magazine: “Resenting Hipsters” Tyrone Beason in The Seattle Times: “Seattle's Vanishing Black Community” The Los Angeles Times' Long, Heart-Rending Feature Article on San Bernardino's Crumbling Housing Sectors The Guardian at Cannes: The Riveting Feature Film Premiere of Sean Baker's The Florida Project Why Public-Private Partnerships So Often Fail Director Roko Belic's Documentary Happy Youtube Excerpt From the Documentary Happy, Which Explores the Powerful Benefits of the Danish Co-Housing Model UCR Housing: It's Rich, Beautiful History and Its Tragic & Barbaric Closing Maureen Dowd, from The New York Times, Complains About Student Dormers Self-Selecting Roommates: “Don't Send in the Clones” Other Supplementary Facts and Sources Concerning Shelter: HUD: The 2016 Annual Homeless Assessment Report (AHAR) to Congress NOVEMBER 2016: 549,928 people were experiencing homelessness in the United States. As of September 8th, 2016 — ATTOM Data Solutions, the nation's leading source for comprehensive housing data and the new parent company of RealtyTrac, today released its Q3 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report, which shows nearly 1.4 million (1,361,188) U.S. residential properties (1 to 4 units) representing 1.6 percent of all residential properties were vacant as of the end of the third quarter. On the Streets: A 12-part video series about homelessness in Southern California--with one of the stories involving a UCLA Grad student living in a car. HERE'S WHAT AN AVERAGE APARTMENT COSTS IN 50 U.S. CITIES Averages from all 50 cities on the list: Median rent for 1-bedroom apartment: $1,234.43 Square footage of 1-bedroom apartment: 678.32 square feet San Francisco, California $3600 San Jose, California $2536 New York, New York $2200 Washington, DC $2172 Boston, Massachusetts $2025 Los Angeles, California $2014 Miami, Florida $2000 ON CO-HOUSING COMMUNITIES: The Kalkbreite cooperative in Zurich suggests how co-ops will become a viable housing option for the 21st century. How Cohousing Communities Help Prevent Social Isolation.
Jason welcomes two guests to the show today. First, private lender Bill Green gets specific with available rates and financing offers available for buy and hold 30-year loans and shorter span bridge loans. He describes the differences between the options and shares and example of when each loan may be applicable for the purchase of your next property. And later in the show, Daren Blomquist returns to the podcast to give us a real estate market update and to provide some unique market data tools his company created. Supply is low and demand is high. If a property makes financial sense buy, buy, buy. Key Takeaways: [01:23] Private lenders help fill the gap between agency loans and hard-money lenders. [05:05] Bill Green explains the financing and rates available for long-term and bridge loans. Daren Blomquist Guest Interview: [17:21] Home price appreciation accelerated during the 1st quarter. [20:01] Linear markets may be morphing into hybrid markets during this period of high demand. [25:49] Technology makes geography less and less important. [27:41] Daren describes the Housing Affordability Index tool and the Pre-mover Index tool. [35:45] Income Property Investors should be wary of high appreciation markets. [37:52] Are the front lines of the real estate market backing out because they smell trouble? Mentioned in This Episode: Jason Hartman Venture Alliance Mastermind ATTOM Data Solutions ATTOM Home Affordability Index RealtyTrac Marketing List Resource from RealtyTrac
Big data is here, it's there, it's everywhere. Real estate investors should use it to their advantage. Tenants credit scores are easy to access and just a click away. In this episode, Jason unpacks recent headlines which paint a picture of the state of the economic mindset in the U.S. Articles about the future of the insurance industry, your 401k account and the current value of the housing market are all scrutinized and analyzed. He also offers up some recommended reading to those worried about the state of the environment. Key Takeaways: [02:28] Newser article The Key to Easy Life Insurance, a Selfie? describes the future of the insurance industry. [11:45] Jason's secret to aging well. [14:19] Jason remarks on the Wall Street Journal article Grab Your Pitchforks America Your 401k May Need Defending From Congress. [20:11] Recommended books on energy and environmentalism. [20:56] RealtyTrac article Are We Headed Towards Another Bursting Housing Bubble in 2017? [29:40] Headlines on the RealtyTrac site are telling about the state of the union. Mentioned in This Episode: Jason Hartman Creating Wealth Ep.#165 with Tony Alessandra Longevity and Biohacking Show RealtyTrac Venture Alliance Mastermind 3 Dimensions of Real Estate Articles & Books The Key to Easy Life Insurance, a Selfie? Grab Your Pitchforks America Your 401K May Need Defending From Congress Smaller, Faster, Lighter. Denser, Cheaper: How Innovation Keeps Proving Catastrophists Wrong by Robert Bryce The Bet by Paul Sabin Are We Headed for Another Bursting Housing Bubble in 2017?
Daren Blomquist – Senior Vice President of Communications at RealtyTrac – joins Brian and Paul Stark for another exciting episode of The Stark Group LIVE. Daren has been instrumental in many facets of the company’s business as it has transformed into the industry leader it is today and is RealtyTrac’s primary media spokesperson and resident go-to expert on foreclosure statistics and other real estate trends. For tonight’s show, they kick off the show by talking about Daren’s expertise – foreclosures. Other topics discussed include distressed homes, motivated sellers and getting the best discounts in the best markets.
Our guest for tonight’s episode of The Stark Group LIVE is Daren Blomquist. You may have recognized his name as Daren has been interviewed by major news networks numerous times now. He has been instrumental in many facets of the company’s business as it has transformed into the industry leader it is today and is RealtyTrac’s primary media spokesperson and resident go-to expert on foreclosure statistics and other real estate trends. Topics discussed in this episode include the rebranding of RealtyTrac as Attom Data Solutions, the housing boom, property values and the best down-and-out neighborhoods to buy a home.
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
In this special Expert Series edition of Self Directed Investor Talk, Daren Blomquist, Vice President of the respected data firm RealtyTrac gives his insights on the suitability of today’s market for house flipping, along with his predictions for what 2017 holds for America’s real estate markets. I’m Bryan Ellis, your host and I’d like to welcome you to a very special edition of Self Directed Investor Talk. Please send your questions and comments to us by email at feedback at sditalk.com or on Facebook or Twitter at SDITalk. With that… Bryan Ellis: Mr. Blomquist, how are you today, sir? Daren Blomquist: I'm doing very well. How are you? Bryan Ellis: Very well. Thanks for joining us. Look, I've always or have long been a fan of Realtytrac and what is now ATTOM Data Solutions, and particularly your quarterly home flipping report, because that's one of the businesses that we're in. I had a look at the Q3 2016 report, and it's interesting because it looks like overall, the information's positive, 45,000 flips last quarter with a pretty substantial gross ROI. Some of the other data, such as slowing volume of flips compared to both last quarter and compared to a year ago. At least a significantly the declining percentage of flipped funded with cash. Those things raise my eyebrows as someone who looks at this market. What do you make of those things? Daren Blomquist: Yeah, I think the decline in flips is ... Right now, I would consider that more of an aberration that's interrupting a long-term trend upward home flipping, and the market is very favorable to home flippers right now. Now it's becoming tougher because prices are getting so high and flippers are jumping into the market, it's becoming more competitive. Bryan Ellis: Right. Daren Blomquist: Still, you have low inventory that's very favorable to flippers. They're providing inventory that the new home builders are not. Bryan Ellis: Right. Daren Blomquist: Then you have rising home prices, which is a double-edged sword. It's tough, it makes it tougher for flippers to find discounts on the front end, but it makes it a lot easier for them to sell. It gives them a cushion to some on the back end. All that to say, I think actually we saw a decrease in overall sales in the third quarter, and I think it's partially a reaction to uncertainty around the election. Bryan Ellis: Sure. Daren Blomquist: I think we'll see that aberration pick back up in terms of the number of home flips. Now I think we'll see it shift, which we're already starting to see to the flippers are shifting to different markets where they can actually find, still find discounts on properties on the front end, or there's more availability of discounts. A lot of times in the form of foreclosures. Bryan Ellis: Right. Daren Blomquist: In terms of the cash piece of it, there's fewer. It's still 68% of flippers are using cash to buy, which compared to the last housing boom, we were seeing about 35% of flippers using cash to buy. Bryan Ellis: Wow. Daren Blomquist: Much more of them were using lending. We are seeing that number at an eight-year low, which means there is more availability of funding for flippers rather than having to use their own money in terms of crowdfunding. In terms of other alternative financing sources. That actually is one of the reasons I think we'll see flipping continue is that's going to enable more flippers to jump in. That may not always be a good thing, but it is going to push the market higher I think in 2017. Bryan Ellis: In your analysis or if you guys track this, who buys those flipper properties? Owner occupants or other investors? Daren Blomquist: I don't have the exact percentage on that, but the majority is owner occupants. When we look at that ... We look at who's buying basically as a proxy, who's buying the flip, not the flipper buying with cash, but if the person they're, or entity they're selling to, is buying with cash, and we do see a fairly substantial number selling to other cash buyers, which for us is a good proxy likely for investors. Bryan Ellis: Right. Daren Blomquist: The majority is owner occupants, but I think you look at markets like Memphis and Cleveland, and places like that where we're seeing quite a bit of home flipping, and a lot of- Bryan Ellis: There's a lot of investor to investor stuff there. Daren Blomquist: Those are going to other investors who then are taking those properties and turning them into rentals. They don't want to deal with the rehab portion of it. Bryan Ellis: Yeah. I have wondered if there are any homeowners left in Memphis at all. Daren Blomquist: Yeah, it's the top market for flipping and it's also one of the top markets when we look at single family rentals for purchasing those. Bryan Ellis: Right. You recently had an article called "Blue State Buyers Swing to Red State Rentals," which I thought was interesting. It was a discussion of the whole turnkey rental property phenomenon that's going on, which really reflects exactly what's going on with the clients of the Self Directed Investor Society, namely that California investors, and in our case, particularly those in the Bay Area, are finding it really interesting to buy real estate in the Southeast. What's your take on that? Why is that happening? Daren Blomquist: Yeah. I think that investors realize that real estate is one of the best places to still get a return in this low interest rate environment. The stock market is good, it has been good, but they want to diversify and they say real estate is a great way to do that. Bryan Ellis: Yeah. Daren Blomquist: Investing in their backyard is really a non-starter when you're ... You just can't cash flow property. Bryan Ellis: Right. Daren Blomquist: Flipping a ... These are the type of investors who probably don't want to get into flipping. They're professionals, they have a day job. They're going to those markets where you can't cash flow and there's still a lot of lower priced properties available that can be purchased and cash flow very well. I would just mention we're not just seeing it in the South. Southeast is a big center of it, but we actually broke it down for Orange ... I know you look a lot at the Bay Area, but we looked at Orange County, California, which is where we are, and where the top counties were, Orange County buyers are purchasing rental properties basically. Not surprisingly, the first few counties were right in the immediate vicinity, but in the Inland Empire where prices are cheaper. Then after that, you have of course Las Vegas, Phoenix are near the top. Then you have places like Memphis. Memphis was in the top 10. Bryan Ellis: Yeah. Daren Blomquist: Shelby County there. Of places that Orange County buyers are purchasing rental properties, you had Wayne County, Michigan [inaudible 00:06:14], which is not really Southeast. That's Detroit. Was one, was in the top 10 for places that Orange County buyers are purchasing rental property. That was- Bryan Ellis: That's interesting. Daren Blomquist: That was an eye opener and certainly we see ... Anecdotally, we hear a lot about that as well. Bryan Ellis: Yeah. Daren, in February or so this year, you had an article out that had some housing predictions, some forecast for 2016. I wanted to take a minute to hold your feet to the fire, so to speak. See how things actually worked out in practice. Let's look at the predictions here. Daren Blomquist: Great. Bryan Ellis: I'm not sure if these are your predictions or the predictions of the other experts that were cited in the article, but the key ideas here were, number one, the prediction for growing rental rights and moderate home price growth, which should force more people, or motivate more people to look to buy in 2016. The second- Daren Blomquist: We did. Yeah. I'll just stop you. Bryan Ellis: Yeah. Daren Blomquist: We did see that pretty much play out. The home price growth was stronger than I expected. It's about five percent for the year. Bryan Ellis: Okay. Daren Blomquist: It was actually a little bit stronger, but it is moderate and we were at double digit price growth. Now we've come down. Rental rates continue to be strong. Bryan Ellis: Right. That was a definite check mark. The second prediction was mortgage rates will rise, which should help boost the number of buyers out there. It looks like that one was a little less accurate I guess. Started to rise at the end of the year. Daren Blomquist: Right, yeah. Get that right if you count to the last couple months of the year, but it really didn't rise ... A year ago ... It feels like Groundhog Day. A year ago, the fed was raising rates in December and predicting that they would raise rates throughout 2016 and it didn't happen. Now they're doing the same thing again. We'll see if that happens in 2017. I do. Really we're off the mark there, but I think more ... The fed has limited control really over mortgage rates. Bryan Ellis: Yeah. Daren Blomquist: I think what we saw following the election is more going to be a driver of rising interest rates than the fed necessarily, but I do expect to see that going into 2017. Bryan Ellis: Yeah, I think we're all surprised that rates didn't go higher than they did. Then that third prediction was inventory's expected to remain a problem in 2016. That certainly looks to continue to be true. Daren Blomquist: Yeah. It's a major theme, and I think most people view it as a challenge in this housing market, but it's really ... It's a good problem to have because it's keeping ... It's a safety net for this market, even if we are seeing some bubbles forming, overheated markets. Those markets typically do not have an oversupply of inventory, which means even if you see demand fall, there's a safety net of low inventory. Bryan Ellis: Yeah. Daren Blomquist: To keep those markets chugging along. Bryan Ellis: Yeah, exactly. Now this leads me to the predictable final question. You did pretty well in predicting 2016. You definitely got two right and the one was flat. What does 2017 look like for you? What do you expect to happen? Daren Blomquist: I'll go out on a limb and do, as I mentioned, we will see interest rates rise, and I think we're seeing that already at the end of this year. Bryan Ellis: Yeah. Daren Blomquist: I think we'll see more substantive rising of rates in 2017 that will, and then that in turn is an important factor that will start to slow down some of these overheated markets in terms of home sales and home prices particularly. Again, we're at about five percent appreciation this year. I think we'll see it go down to two to three percent appreciation. This is a nationwide number of course. Bryan Ellis: Yeah, sure. Daren Blomquist: There's a lot of variance from market to market, but I think in general, we'll see cooling appreciation. We will see I think a surge in home sales early in the year. We already saw it a little bit in November as people try to beat out the higher interest rates. That's going to be an overriding factor. Bryan Ellis: Sure. Daren Blomquist: Another prediction that's a little more localized in nature is I think ... I'm very bullish on the Rust Belt. Bryan Ellis: Are you? Daren Blomquist: They were a big part of the election, and in determining the election, and there's been a lot of talk by now president-elect Trump to invest in infrastructure, and there seems to be a lot of bipartisan support for that. The cities that need the most infrastructure improvement tend to be in the Ruse Belt. Bryan Ellis: Yeah. They're going to feel the love. Daren Blomquist: Places like Flint, Michigan, that have aging water systems and what not. We see that investment happening, that's going to really help housing in those markets and improve the overall value of the housing market. Bryan Ellis: Awesome. Daren, thank you so much for your time. I am very grateful to you, and hopefully we'll get to have you back on and maybe dig a little bit deeper into the single family rental market, because I know that's an area of expertise for you and ATTOM Data Solutions. Thank you so much for being here. Daren Blomquist: Yes. I'm glad to be here and happy to come back at some point in the future. Bryan Ellis: Awesome. Thank you, sir. See acast.com/privacy for privacy and opt-out information.
In this week's podcast, we outline our 12 step guide to starting or growing your real estate portfolio in 2017. The end of the year is fast approaching and while Christmas time can be very hectic, a few days away from the normal day job can be a great time to set and revise our personal and financial goals for 2017. Today we outline 12 simple and actionable steps that ANYBODY can take to seriously increase their net worth in 2017. 1. Commit. Make a promise to yourself that you are going to do it. 2. Get Your finances and your Life in Order 3. Study and gain general Knowledge Recommended books: Ultimate Beginners Guide to RE Investing by Brandon Turner http://tinyurl.com/hbo8gha ABCs of real estate investing by Ken McIlroy http://tinyurl.com/h37dpsa The Millionaire Real Estate Investor by Garry Keller http://tinyurl.com/jf79emh Biggerpockets.com Zillow.com Realtor.com Realtytrac.com 5. Set Your Goal(s) and decide what strategy can get you there. Be ambitious. 6. Analyze different areas but choose one location at a time. 7. Figure Out Your Financing and get pre-approved. 8. Get Your Core Team Together: sourcing, rehabbing, manager, maintenance, CPA 9. Start Looking for Deals and get lots of practice analyzing them. Review your numbers and get second opinions. 10. Make offers and take the plunge. Don´t let anybody intimidate you but don´t get angry or aggressive either - stay calm and professional at all times. 11. Keep Yourself Organized - have spreadsheets, funnels, to do lists, deadlines, cashflow projections, etc. Set aside time to review performance every month. Look at incomings and outgoings of your properties. Nip problems in the bud. 12. Always be networking and alert for new opportunities. Keep reviewing your goals. Have a great Christmas!
Real Estate Investing Classroom (Video): Experts Teach Real Estate Investing Tips and Strategies
Jason Lucchesi shares a fantastic way to find distressed deals through RealtyTrac. Learn how he searches and find short sales with a good amount of equity. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!
Real Estate Investing Classroom (Audio): Experts Teach Real Estate Investing Tips and Strategies
Jason Lucchesi shares a fantastic way to find distressed deals through RealtyTrac. Learn how he searches and find short sales with a good amount of equity. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!
Many of our viewers have asked lately whether the fall is a good time to buy a home. I wanted to explain today why it might actually be the best time of the year to buy one.Want to sell your Home? Get a FREE home value report.Want to buy a home? Search all homes for sale.We've received a lot of great questions lately, so today, we wanted to answer one from a couple of viewers who were wondering whether or not the fall months are a good time to buy a home. There are actually five reasons why I think fall might be the best time to buy a home:Lower home prices. October has the lowest home prices of any month. This isn't just some guess; this comes from RealtyTrac's analysis of more than 32 million home sales over a 15-year period.Less competition. Like the beach after Labor Day, the summer real estate market also clears out when the days turn crisp. Most summer buyers have already bought their home, so you'll have less competition in the fall. Interest rates are still at an all-time low. In 1970, the average interest rate was 8.8% and by 2000, it was 6.29%. In the 1980s, it was as high as 12%! This September, it's 3.64%, which is about as low as we’ve seen rates get.The holidays are just around the corner. Not only are most sellers worn out from the summer selling season, they're caught between a real estate rock and a hard place in that the holidays are barreling down on them. If they want to move in time to host Thanksgiving dinner and put up their Christmas lights, they'll have to close fast. These are motivated sellers, so use this pre-holiday window to your advantage. Offer to let them vacate fast if they cut you a deal.Year-end tax credits. Nobody wants to buy a home just to please their accountant, but on the other hand, there is a sweet added incentive for closing on a home at the end of the fiscal year. Come April 15th, you might be able to take some nice deductions, including closing costs, property tax, and mortgage interest.“Fall real estate is like the beach after Labor Day. ” There is a lot to think about if you're going to enter the market this fall. If you work with the right Realtor plus a competent lender and accountant, you'll be fully prepared to buy the right home for you at the right price with the best tax advantages. If you need a referral for a great lender or accountant, just reach out and we'd be happy to provide it for you. If you're thinking about buying a home this fall, give our team a call or send us an email. We'd love to help you out!
Daren Blomquist is a Senior VP at ATTOM Data Solutions and the Executive Editor of ATTOM's award-winning Housing News Report. This is Daren's second visit to the Creating Wealth podcast. He joins Jason to discuss the new President-Elect, Donald Trump, what Trump's future presidency will mean for real estate investors, the economy and the regulatory issue's which bogg the current market. Key Takeaways: [1:43] What does a Trump presidency mean for real estate investors and the US economy? [5:55] The wage problem is causing affordability issues. [8:46] In the real estate market lower interest rates create a bubble. . [11:33] The rising house prices are unsustainable and home ownership rates are at 50-year lows. [15:43] Wouldn't it be nice if Trump repealed Dodd-Frank? [19:11] ATTOM's Housing News Report article reveals big banks are leaving the mortgage business. [20:16] October 2016 shows a month-over-month increase in foreclosure activity. [24:29] Trump's promise to invest in the infrastructure in rust belt cities will benefit real estate investors. [25:36] Creating Wealth listeners get the award winning Housing News Report free for one year if they email marketing@attomdata.com Mentioned in This Episode: Jason Hartman Realty Trac Marketing List at Realty Trac ATTOM Data
IMN Single Family Rental Conference Dec 5-7, 2016. CMT listeners can use code SP20 for a 20% discount. The fix and flip industry has become a very popular and profitable business as the housing market continues to recover. According to RealtyTrac, the average return on investment for house flippers grew from about 20 % in 2011 to 35 % to 2015. In some parts of the country, 8-10 % of all single-family home sales are fix and flips. There are three main financing options for investors to grow their business: bank Loans, private money loans and real estate crowd funding. Joining the podcast today is Mark Filler, CEO of Jordan Capital Finance. Jordan Capital Finance is a direct private money lender serving residential real estate investors who acquire, renovate, rent, and sell properties. Prior to founding Jordan Capital Finance, Mark co-founded Prism Financial Corporation and was the was the sole founder of Prospect Mortgage which is currently one of the largest independent retail mortgage lenders.
Jason Hartman analyzes the foreclosure market with RealtyTrac Senior Vice President, Rick Sharga. As one of the country's most frequently-quoted sources on foreclosure, mortgage and real estate trends, Rick has appeared on NBC Nightly News, CNN, CBS, ABC World News, CNBC, MSNBC and NPR. Rick has briefed government organizations such as the Federal Reserve and Senate Banking Committee and corporations like JPMorgan Chase, Citibank and Deutsche Bank on foreclosure trends, and done foreclosure training for Re/Max, Prudential and Keller Williams and other major organizations. Rick joined RealtyTrac in 2004 as Vice President of Marketing, responsible for the development and management of the company's brand, public and investor relations. In his current capacity, he also oversees business development and data operations. Prior to joining RealtyTrac, Rick spent more than 20 years developing corporate and product sales and marketing strategies for corporations such as DuPont, Fujitsu, Hitachi, Toshiba, JD Edwards, Cox Communications and Honeywell. The 2006 Stevie® Award Winner for Best Marketing Executive, Rick began his career with Foote, Cone & Belding, and also held executive positions with Ketchum Communications and McGraw-Hill. Rick is a member of the National Association of Real Estate Editors, the USFN and REOMAC. He is also President of the Technology Council of Southern California and on the Editorial Advisory Board of Default Servicing News. Rick spends his spare time working toward a black belt in Tae Kwon Do, and continuing his lifelong quest to find the perfect wine to compliment his BBQ'd baby back ribs.
How would you like to save $17,776 on your next home purchase? I’ll tell you how in today’s episode. I’m Carole Ellis. This is episode 77. So how would you like to save $17,776 on your next home purchase? I’ll tell you how today, and it’s so easy it’s actually extremely surprising that more people aren’t doing it. I’ll tell you all the details in just a minute, but first I want to take 30 seconds to mention a “Secret” side of real estate that most people don’t really have any idea exists: something called LOAN BROKERING, where you bring real estate investors (and those investors CAN be you, by the way) and loan money together and charge a fee for being the guy (or gal) in the middle. It sounds easy, but most people get hung up on that “bringing loan money to the table” part. Thanks to an in-depth training provided exclusively to REI Today by a super-successful investor and loan broker, however, I’ve got a pretty key insight into how to get that money to the table and more money in your pocket as well, whether you want to fund your own real estate deals or just play the role of the “middle man” or woman. One investor started using this strategy and generated $42,000 just in brokering fees – he didn’t even do any of his own deals! Get all the information on how to make this strategy work for you in our limited-time training at www.rei.today/42K and find out how the 42K guy’s strategy can be yours, too. That’s www.rei.today/42K. Now, let’s get back to saving some SERIOUS MONEY on your next home purchase. Here’s the deal. According to a recent report released jointly by RealtyTrac and Down Payment Resource, certain state, local, and federal programs exist that are intended specifically to help you save money on your home purchase. These programs are generally referred to as down payment assistance programs, but they don’t just affect the amount of money you have to put down in order to buy a house. They also have a HUGE impact on the amount of money you’ll pay monthly on that house over the life of the loan. In fact, according to the report, the total savings breaks down to an average of $5,965 savings on the down payment and average savings on monthly house payments over the life of the loan of an additional $11,801. When you consider that nationally, even making a three percent down payment on a home (and that generally requires a bit of luck to land on its own) requires a would-be homebuyer to save 14 percent of his or her annual salary and in many cities, the number is more like a full fifth of their annual salary, it’s really surprising that more people are not taking advantage of programs that save, on average, more than $17,000 on home purchases for participants. The reality is that these things just are not very well publicized, for starters, and also a lot of people who would like to buy a home simply never explore the option because they think they can’t save enough for a down payment or assume that they’ll never get a mortgage. So as an investor, how can you leverage this information to your advantage in your business? Well, there are several action steps that you can take: First, educate yourself on your local homeownership options. This isn’t necessarily for your next home purchase, it’s for your buyers. If you can present a buyer who wants to buy your property but believes he or she cannot do so because of conventional issues like not having enough saved for a large down payment or thinking that monthly payments will be too high, if you can direct them to a local housing advocate who can help them, you just might save that sale. Second, research creative financing options. You (and your buyers) do not need banks in order to buy and sell homes. There are LOTS of other options out there for people who might never qualify for a traditional 30- or 15-year-fixed mortgage. You could offer lease-options, subject-to financing, seller-financing, and countless other variations on these types of financing to fit your needs and those of your buyers. Just make sure that the creative financing works for YOU as well as your buyers and get a lawyer to review the documents and process before you all sign. Third, PROMOTE YOUR KNOWLEDGE! Most people who are selling properties, investors, traditional homeowners, or otherwise, do not HAVE the knowledge to help get their buyers into a home outside of maybe referring them to a mortgage originator that they know is successful. Make sure that your potential buyers know that your properties come with YOUR KNOWLEDGE and that viewing one of your properties (and hopefully buying it) comes with some additional assistance. Particularly in areas of the country where down payment assistance programs actually equate to HUGE savings for buyers, (one city actually boasts an average of $80,148 in savings when buyers leverage these programs effectively) you can launch a pretty persuasive ad campaign for working with YOU on the basis of that alone. Wondering where your city stands in the down payment and mortgage loan savings? I’ve got the top cities for savings according to RealtyTrac all lined up for you in the REI Today Vault at www.rei.today/vault. Not yet a member? No worries! just text REITODAY no spaces no periods to 33444 and I’ll provide you with fast, immediate access to this startling information as well as sending you straight to a treasure trove of trainings, uncut interviews, breaking news coverage, and a lot more timely, insightful information that will help make your real estate investing safer, faster, and more profitable. That’s REITODAY no spaces no periods to 33444 or go to www.rei.today/vault for more information right now. And remember, when you join us, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. REI Nation, thanks for listening in. Now, more than ever, please remember this: Your best investment is ALWAYS your own education. See acast.com/privacy for privacy and opt-out information.
Senior Vice President of Communications at RealtyTrac, Daren Blomquist tells stories about the housing market in a unique way. He does it with data! That means the story is very, very accurate. Maybe that’s why RealtyTrac is so widely used by professionals in the real estate industry and investors alike. Before Daren was the “Data Geek” he is today, he was a newspaper reporter in Illinois. A big part of his job was researching, using data to help him write stories and learning how to paint the big picture for readers. Eventually he moved to California where he joined a little startup company in the customer service department. Daren says that was a really good thing, because he got to talk to a lot of customers. It gave him the inside “Trac” on what they wanted. That information comes in handy to Daren in his current position. Today, Daren is one of the company’s longest-term employees and has been with RealtyTrac since 2001. A noted real estate expert – on home sales trends, tax and deed loan information, property values; investor and cash sales share of the market, foreclosure activity and rates as well as extensive neighborhood and environmental data and overall housing market trends. Daren is directly responsible for the creation of the company’s comprehensive real estate reports, which are cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY. He has been quoted in hundreds of national and local publications and has appeared on many national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business and Bloomberg. One of the things Daren says RealtyTrac wants to stay true to is being transparent. He says it’s not about “spin” but the full picture of what’s going on in the real estate market. At its core, RealtyTrac is a data provider, and while its strong suit is foreclosure data the company continues to evolve. Now there is total transparency in the data they provide so that investors can use the site to determine is a property is a go or no-go deal. At www.RealtyTrac.com you can access their entire and incredibly impressive database of properties using a massive number of filters to find only the types of properties you like. (That’s called knowing your Investor Identity!) While the data reflects US properties only, there are plenty of international investors who use the system to figure out good investments. This includes commercial properties. So everything you are interested in, from single-family houses to multifamily properties to commercial properties, you can find them on RealtyTrac. Daren is also a trend spotter. According to his data, he’s seeing a few trends in the market today. The most noticeable is that the market is trending back from a distressed market and adjusting to the middle of the road. While that’s good for now… there’s big change coming, because the market trends are cyclic. Already there are indicators that certain bubbles are going to burst soon, because in some areas there are extreme pricing peaks. San Francisco is one of those markets. Learn more. LISTEN NOW.
I’ve got an important announcement: the ZOMBIE APOCOLYPSE may be over. At least, the foreclosure zombie apocalypse, that is. And unfortunately, it’s not necessarily good news for real estate investors. I’m Carole Ellis. I’ve got all the details on the official end of the foreclosure zombie apocalypse today, in episode 66. -- So what sounds like the best post-housing-crash news EVER that could end up being bad news for your real estate business: this formal announcement from RealtyTrac. According to the real estate data giant, vacant “zombie” foreclosures – properties that have no real owner and have been allowed to stagnate vacant on the market by lenders that started the foreclosure process but never completed it – are fading fast. In fact, the number of properties in “zombie foreclosure” has fallen by 30.1 percent over this time last year, making fewer than one in every 20 foreclosed houses an actual zombie. Why is this potentially bad news for real estate investors, and how should you start adjusting your “game” to deal with the end of this dystopian phenomenon? I’ll get to that in just a minute, but first, I want to tell you about something else that is NEW and a whole lot brighter – literally – than zombie foreclosures: a fully solar-powered community that is presently under construction in the sunny state of Florida. The development, called Babcock Ranch, will eventually be home to about 19,500 homes that are fully powered by the sun and that do NOT have solar panels. It’s a huge labor of environmentally-friendly love mixed with a healthy eye to profit, and you are going to love learning more about this self-described “town of the future.” I’ve got all the details in the News and Networking section at www.rei.today, so head on over there and check it out. Now, back to the darker, post-apocalyptic side of real estate…Okay, maybe it’s actually not quite that bad. Here’s the deal: According to RealtyTrac, fewer than one in every 20 foreclosed homes in the national housing market today is actually a ZOMBIE FORECLOSURE, and that’s a big improvement for markets all over the country that suffered some serious blight as lenders, realizing that they had a vested interest in NOT being fully responsible for the thousands and thousands of homes that they’d foreclosed on in hard-hit areas of the country during the housing crash (think Detroit, for example), opted to abandon foreclosure proceedings on those homes and just let them sit. Since in most cases the homeowners had already left, those properties basically fell apart (and sometimes right back into the ground; I visited Detroit and Flint, Michigan, in 2012 and huge portions of those cities at that time were nothing but ghost towns) and they took neighboring property values right along with them. Now that the national housing market is in recovery mode and just about everywhere is better off than it was in the wake of the housing and financial crises, lenders are starting to go ahead and finish up the foreclosure process on those zombie properties, either cleaning them up or knocking them down and creating space for new development. Now, many real estate investors say that they feel like the end of zombie foreclosures means that they missed the boat. After all, how easy would it have been to negotiate with a bank to take a property off its hands that it clearly didn’t care about enough to finish taking ownership? Well, the reality is, it wasn’t actually that great! So don’t you DARE use this as an excuse, ladies and gentlemen! Here’s the thing: those banks couldn’t be BOTHERED with those properties. They didn’t WANT to deal with them. Now that they’re actually willing to foreclosure and throw them up on the market, they’re actually making markets more affordable and accessible in a lot of cases both to first-time homebuyers and investors. In fact, senior VP at RealtyTrac, Daren Blomquist, pointed out just last week that the death of the zombie foreclosure market in areas like Miami and New York is actually making those markets more accessible by relieving the quote PRESSURE COOKER of escalating prices and deteriorating affordability (end quote) in those areas and others. So if you have been feeling sad that you didn’t get in on the zombie foreclosure apocalypse in time, good news: NOW is really the time to start leveraging your investing experience and education in order to truly get involved in real estate .Here are three easy things that you can do to get your investing started NOW in today’s hot, now zombie-less markets: Examine your target market for TIMELINESS This means take a look at days on market, sales price, and how those homes that are selling are looking. This means: are they all HGTV dressed up to sell at top dollar or is there an active investor community? What do you need to plan to do in order to participate in this area? Take a look at off-market options. There are SO MANY WAYS to get great homes at deep discounts via off-market purchases and working directly with motivated sellers. And no matter what ANYONE tells you, there are always off-market homes available. If you don’t believe me, check out an old, old episode (number 2!) in the REI Today Vault and see how one of my early guests gets major action in the hot, hot market of Miami using off-market strategies. Finally, take some action. And I know you’ve heard that a thousand times, but seriously, people, it’s the only way to make money in real estate! Go to the vault (rei.today/vault) and look at episode #2 and also take a look at today’s episode’s list of markets that still have plenty of zombies to go around while you’re there. If you’re not yet a member, text REITODAY no spaces no periods to 33444 and I’ll get you in there right away. Either go to www.rei.today/vault or text REITODAY no spaces no periods to 33444 and I’ll immediately send you the information you need to get that access and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable. And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now. REI Nation, thanks for listening in and always remember this: Your best investment is your own education. See acast.com/privacy for privacy and opt-out information.
How would you like to get a 23 PERCENT DISCOUNT on your next deal? I’m Carole Ellis. I’ll tell you how today, in Episode . How does a 23 percent DISCOUNT on your next deal sound to you? Think you could manage to make a little extra profit with that kind of wiggle room? Some exciting new data from RealtyTrac shows clearly how to do it, and we’ll talk all about it in today’s episode. First, however, I want to mention another great way to get deals (and, by the way, a great deal for you) if you live in the Birmingham, Alabama or Miami, Florida areas. On May 10 in Birmingham and on May 16 in Miami, Auction.com is hosting a LIVE SEMINAR on how to use their website and other investor-specific concierge services to get fantastic deals on properties. The May 16 event is particularly exciting, I think, because Rick Sharga, a former senior VP at RealtyTrac and current executive vice president at Auction.com (which, by the way, is now calling itself Ten-X) will be the featured speaker at the event. If you are going to be in either of those areas, check out all the information at www.rei.today/auction and, by the way, when you register mention that you heard about it here and you’ll get in for free. And you better tell me all about it when you’re done, because I’m hoping to get down to Miami myself but I just broke my foot which is going to make traveling hard…We’ll see what happens. Anyway, now that you know how to gain access to the biggest online real estate auction around on a personal level, let’s get back to that 23 percent discount. Here’s how it works: You pay cash. Now before you throw up your hands and say “I don’t have enough money to pay cash at closing for a house!” wait a second. “Paying cash” doesn’t always mean you show up with a suitcase full of gold coins or hundred-dollar bills. Here’s the definition provided by Investopedia on the topic: “An all-cash deal is the transfer of a real estate property without financing or mortgages. The buyer produces the appropriate funds at the time of closing and the seller receives the entire selling price at closing.” In terms of your real estate deals, what this essentially means is that your offer will become significantly more attractive if you can tell the seller up front that you have access to the cash you need to buy the property and are not going to be waiting on, say, Bank of America, for your 30-year fixed-rate mortgage. Sellers will give major discounts (as you can see) for fast closings (not an option with conventional financing) that they can count on (also not an option with conventional financing), and you can take advantage of that even if you don’t have a couple hundred thousand dollars squirreled away in your mattress or buried in the basement. In Here’s how: Many real estate investors opt to use their retirement accounts to fund their deals, which means that they can pay up front for their purchases and access the advantages that hedge funds and other huge investment powerhouses have over most buyers. You will need a self-directed account to do this, though, so if you don’t have one, talk to an expert (oh, and start listening to SDI Radio on iTunes) about how to make this happen. You probably have a LOT of investment money you didn’t know about just waiting to be leveraged if you’ve worked outside the home at some point in your past. Second, you can access unconventional financing. If you work with a private lender who has already committed to loan you the money for a short-term investment (say, perhaps, that you are planning to wholesale the deal) then you can offer very similar terms to a seller that an all-cash buyer can offer because you can close quickly and you know that you’ll get your financing. Private and hard money loans are a great way to be competitive in this market, but be sure you’ve run your numbers carefully as they come with the price of higher interest rates! Finally, many real estate investors simply build lists of cash buyers to whom they can wholesale their deals, then get to work finding deals to those cash buyers’ specifications. While you may not be buying the deal yourself, you’ll get a cut of the profits and you can probably leverage your cash buyers to make the deal more attractive. That being said, it’s very important to be clear with sellers about what you are doing. Don’t lie! If it’s not YOUR cash, don’t say it is! Just establish the terms of the deal and get that sucker under contract so you can get to work solving EVERYONE’S problems. Of course, in some markets, that 23-percent discount is actually much, much bigger. Check out our list of markets where the discounts are 40 percent OR MORE in the REI Today Vault at www.rei.today/vault. Not yet a member? No worries! text REITODAY no spaces, no periods to 33444 and I’ll immediately send you the information you need to get that access and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable. And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now. REI Nation, thanks for listening in and always remember this: Your best investment is your own education. See acast.com/privacy for privacy and opt-out information.
Wouldn’t you want to know if buying near a certain HUGELY POPULAR store that is often touted as a BONUS by sellers could actually be LIMITING APPRECIATION compared to similar retailers by as much as 10 percent? If you don’t like the sound of “always low prices” and YOUR HOME in the same sentence, you can’t miss this. I’m Carole Ellis. This is Episode 25.So, let’s just get this out in the open. We all love the people of Walmart. Some of us have even BEEN the people of Wal-Mart if we really needed that toilet paper run at midnight! And that’s okay. Wal-Mart gets a lot of grief from a lot of different directions, and this podcast is not about shaming Wal-Mart, its customers, or even its management. This podcast is about alerting you to the cold, hard facts that if you buy property near a Wal-Mart, it could cost you by comparison to buying near other big-box retailers.Now before we go any farther, I want to take a minute to put you on HIGH ALERT. REI Today has gained what we’re calling “first look access” to a brand new real estate training that includes, among other things, access to $600,000 in FUNDING for all types of deals. If that sounds like something that might be too good to pass up (and let’s just say, it’s not something that’s going to be available forever) then I recommend you watch this training TONIGHT, the only time REI TODAY is going to offer it, at 9pm Eastern or, for our west coast listeners, 9pm Pacific. Go to http://www.rei.today/FUNDING600 If you’re serious about jumping into real estate or escalating your business in a meaningful way, it will be worth your time to do it. This is a really fantastic program that will enable you to plug into the profitable side of real estate investing and start profiting quickly no matter age, experience level, or income. And that’s the last you’re going to hear about it, so please, don’t delay.Now, back to Wal-Mart’s “always low prices” and how they could be keeping your appreciation always low – or at least, always LOWER than everyone else’s – as well. Here’s the deal. One of our favorite real estate data giants, RealtyTrac, has evaluated ALL THE HOMEOWNERS IN THE COUNTRY who sold their homes in 2015 on the basis of proximity to Wal-Mart and its closest competition, Target. Tar-jay to those of us who consider ourselves die-hard fans. The homeowners who lived near Wal-Mart sold for prices that equated to roughly, on average, 16 percent appreciation over the lifetime of their ownership, which doesn’t really sound all that bad, until you compare. Homes located closer to Target snagged 27 percent appreciation on MUCH higher property values for a total of…wait for it because it’s going to hurt…selling on average 72 percent HIGHER than homes near Wal-Mart locations.Of course, there are plenty of locations – I myself live in one – where the Wal-Mart and the Target are basically next door to each other, and there are also a lot of other factors in play outside of retailer presence in determining how much homes appreciate. For the moment, however, let’s take a slightly closer look at these stores’ typical shoppers. Wal-Mart shoppers tend to be white, 50 years of age, and have annual household incomes of 53,000 or more. Target shoppers are five years younger but have an annual income that is about 12,000 higher. So it’s entirely possible that the price differences have more to do with what shoppers can afford in their homes as opposed to which retailer they prefer.Regardless of the reason that Wal-Mart tends to correlate with lower appreciation, there is some good news: Wal-Mart homeowners tend to pay less than half of what Target homeowners pay in property taxes.For a savvy real estate investor, this type of study is useful mainly because it simply serves to emphasize that you can never evaluate a deal without evaluating its environment. Should you remove all emotion from the equation? Absolutely. Should you remove all other external factors or trust anyone who says they have figured out a way to do so? Probably not. Always consider every angle of a deal, including the local housing trends, before sinking your hard-earned money in.Want more information on how retail presence affects property values (or vice versa)? Check out our exclusive 2016 Housing Retail Resonance Report in the REI Today Vault at www.REI.Today/Vault. Not yet a member? Text REITODAY, no spaces, no periods, to 33444, and I’ll provide you with fast, immediate access to this report and a lot more timely information that will help make your investing safer, faster, and more profitable.And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.REI.Today/Vault right now.REI Nation, thanks for listening in and always remember this:Your best investment is your own education. See acast.com/privacy for privacy and opt-out information.
Crunching the numbers sounds easy enough, but which numbers do you use? National data doesn't always reflect individual markets and using geographical data isn't always a telling sign due to widespread changes in Fannie and Freddie's level of risk. Jason and Daren take a deep dive into analyzing market data and how tagging markets as linear, cyclical and hybrid allow investors to understand good properties based on cash flow and ROI. Key Takeaways: [2:20] National data doesn't always reflect geographic niches [3:59] RealtyTrac is, at its core, a data company [6:43] Licensing and re-selling the data to other companies [8:16] Home sales are at an 8 year high when analyzing 190 markets [10:38] The homeownership rate helps our clients to analyze markets [12:30] Analyzing the tax assessor information for rental properties [14:50] Everything is relative [18:44] Thinking of real estate markets as linear (boring), cyclical and hybrid [24:15] A combination of jobs and universities help real estate markets [28:41] Extend and pretend, or delay and pray markets [31:24] Market influences are tipping towards introducing additional risk Mentions: Hartman Media RealtyTrac CoreLogic Black Night
RealtyTrac’s, annual foreclosure report for 2015 is out. RealtyTrac’s year-end foreclosure report is a unique count of properties with a foreclosure filings during the year based on publicly recorded and published foreclosure filings collected in more than 2,500 counties nationwide. The report highlights some trends that may illuminate the activity to expect in 2016. Some interesting highlights are Foreclosures starts are downRepossessions are upTimelines downThe report highlights states with the highest and lowest foreclosure starts and metro areas with the greatest risk. Foreclosure rates impact several sectors of the housing and mortgage market and understanding the data to plan strategically is critical to navigate 2016. Joining the broadcast to discuss the annual 2015 foreclosure report is RealtyTrac’s Daren Blomquist. Daren is RealtyTrac’s primary media spokesperson and resident go-to expert on housing and foreclosure statistics and trends. Daren is also managing editor of RealtyTrac’s Foreclosure News Report, which was named the “Nation’s Best Newsletter” by the National Association of Real Estate Editors, and is directly responsible for the creation of the company’s U.S. foreclosure market and sales reports. The report is cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY.
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
The stock market is crazy… bond mutual funds are shutting down… and there are tremors of concern about the real estate market. So how would you like a way to make a safe, reliable 12% on your money? I’m Bryan Ellis. I’ll tell you how right now in Episode 169.-----Hello, SDI Nation! Welcome to the podcast of record for savvy self-directed investors like you.Those of you who are long-time listeners to this show know that I believe in ONE STANDARD for investment evaluation for self-directed investors. It’s called the S3 standard, and the 3 S’s stand for Simple, Safe and Strong.Today, I’d like to share with you a strategy that absolutely fits that mold. It’s called Quick Flip Lending… and it’s incredibly simple… and very, very profitable.Here’s how it works:There are people out there – lots of them – who buy real estate with the specific purpose of renovating it and reselling as quickly as possible. They’re called “Flippers” or “Quick Flippers” and there are a lot of people doing this.In fact, according to RealtyTrac, over 43,000 flips were completed in the 3rd quarter of this year. And the AVERAGE gross margin on those deals was over 33%... so huge margins, indeed.So there are a LOT of people actively involved in flipping real estate. And all of them are common in one way: They need money. A lot of it.That’s where you come in… and a huge opportunity for a simple, safe, strong profit.Imagine this: Imagine I’m a property flipper and I come to you and say: Mr. or Ms. Investor, there’s a property in a very hot market that I can buy for $76,000. It needs only $10,000 of renovations. Thing is, it’s worth $125,000. So if I pay you interest at 12%, would you lend the money to me to do this project for the next 12 months?You, being an astute investor, know that 12% is a really solid return. So you do a little snooping around… and sure enough, you find out that everything the flipper told you was true. The property is in a strong market. It is worth $125,000. And it really does only need $10,000 of renovation work.What to do? The flipper wants to borrow $86,000 to cover the cost of purchase and renovation. Should you do that?Well, folks, essentially we’ve already established that this approach is consistent with the SIMPLE tenet of the S3 Criteria. It’s just a loan. You can’t get simpler than that.You know it’s strong, too… 12% is a strong return. Seriously… I don’t know a lot of people who wouldn’t be happy to get a consistent, long-term 12% return on their capital.So we’ve got Simple. We’ve got Strong. But is it SAFE?Answer: It CAN be very safe… or it can be a bit foolish.The safety will depend on a couple of fundamental issues: How much money you actually choose to lend and how your money is SECURED.So here’s what I suggest for each of those issues in order to make this deal safe.How much should you lend? Most lenders agree that the maximum that should be lent against a property – in order for your capital to be REALLY safe – is 65% of the property value, which in this case is $81,250.To make it simple, you might choose to lend only the purchase price of the property - $76,000 – and require the flipper to fund the renovation out of his own pocket. Because let’s be clear, my friends: It makes a lot of sense to demand that the borrower have some of his own skin in the game. In fact, that’s very wise. As someone who has done this kind of lending, I like the model in which the borrower is required to fund renovations out of his own pocket.So the question of how much to lend is answered. But how will your money be kept SAFE?That, too, is rather simple: You get a first lien against the property for the amount of your loan. So you’ve got a $76,000 mortgage against a property that’s worth $125,000. So bottom line – even if the borrower totally flakes out, you can quite easily sell that house and get all of your money, interest and fees back because there’s such a huge equity spread.With a well-structured, well considered quick flip loan, it’s hard for the lender to lose money. Not impossible. Nothing is a guarantee. But with a modicum of rationality, these deals really make a lot of sense… they’re absolutely SIMPLE… SAFE and STRONG.It’s just a loan… well secured… for which you collect 12%.And you know what else? These loans tend to be short – almost always under 12 months, usually under 6. So you get your capital back quickly and can do it again.I happen to know there are some really, really attractive deals like this available right now. In fact, the example I just gave you is a real deal. Most of them require somewhere in the $100,000 to $200,000 range… but the ratios are all the same. Still never lend more than 65% of the real property value, still require to the borrower to have a lot of skin in the game, still simple, still safe, still strong.If you’d like a referral to some of these opportunities, just stop go over to SDIRadio.com/lending for the info. Again, that’s SDIRadio.com/lending.Folks, you know I LOVE real estate. I think real estate is the best wealth opportunity ever. But being a LENDER against real estate… using smart, safe terms… frankly, that may well be the best of all worlds. I really do think that’s an extraordinarily strong way to go for far more people than currently are involved in it. If you’ve never done any of this type of lending, I respectfully recommend you consider doing so… it’s hard to argue the wisdom of it.So check out SDIRadio.com/lending for more info.In tomorrow’s episode, I’m going to share with you an EXTRAORDINARY way to get a HUGE tax break for those of you who need some tax relief. But to get a tax break for this year, you’ve got to do this by December 31, so be sure to tune in to tomorrow’s episode.In the mean time… invest wisely… and live well forever! See acast.com/privacy for privacy and opt-out information.
Real Estate Investing Profits Master Series with Cory Boatright
Today we’re joined by Daren Blomquist, data expert and Vice President of RealtyTrac. He graduated from Trinity International University with a degree in English Communications, in the hopes of becoming a newspaper journalist. However, in 2001, he started with RealtyTrac thinking it would be a small, internal publication. But to his surprise, he ended up sticking with it ever since. He’s directly responsible for the creation of the company’s U.S. foreclosure market and sales reports, and they’re sided by hundreds of media outlets nationwide, like: CBS, ABC, CNN, Fox Business, and USA Today. He’s been quoted in hundreds of national publications like: The New York Times, Bloomberg, Forbes and The Wall Street Journal. They also work closely with numerous government agencies at the national state and local level, and he’s a highly sought after speaker at industry events. “Whenever I let go of control, I get more of it. It’s almost like holding on to a cactus: the tighter you hold on, the more it hurts you.” Today is really all about data analysis, how and why RealtyTrac came to be, and some ups and downs Daren faced while the company was growing. We talk about the importance of handing off tasks as today’s Profit Master’s Investment Strategy, and the positive results that come from passing off responsibility and control. Daren tells us this is his best piece of advice to running a successful real estate data team. We discuss a great strategy that we have observed in successful investors, which entails buying the foreclosure rights on houses before they can be repossessed, and are able to do this by using the information provided by RealtyTrac. “People give up on something quicker than they should instead of giving it time to succeed.” Lastly, we get a best-kept secret about the RealtyTrac website, and how you can use it to dominate the foreclosure market. You’re basically creating lists of people you want to market to, so this is just as useful for marketing as it is for investing and real estate. So go ahead, create a free account, and check out the millions of records we have on file, today! Daren loves hearing from his audience. So, if you’re an investor, e-mail Daren at daren@realtytrac.com, and tell him your stories and what you’ve been seeing in your market. “Even when I don’t feel like I’m making as much of a difference as I’d like to, just continuing to believe in it and continuing to do what I know—is what I should be doing. Links and resources: RealtyTrac Mega RealtyTrac Dan’s twitter Hootsuite Sunrise Wall Street Journal Freakonomics by Steven D. Levitt David and Goliath by Malcolm Gladwell Ask Cory A Question Want to get in touch with Cory and ask him your most burning Real Estate Investing question? We’ve made it super easy for you. Just head over to our Ask Cory A Question page and start recording. Cory will play your question live on an upcoming show and answer it personally. Who Do You Want To Hear From? Name some folks I should get on the show! Hit me up: support@realestateinvestingprofits.com and I’ll do my best to get them on. Did You Get Your FREE Investing Guide? TEXT the word PROFIT (38470) to immediately sent Your FREE Investing Quick Start Guide! JOIN The Elite Real Estate Investor’s Board of Directors http://JoinMyMastermind.com Connect Here Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download. Join us on the Real Estate Investing Profits Facebook site too!
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
You want great investment opportunities in the Golden State of California! Well, we’ve got the great opportunities you’ve been looking for in Cali, and I’ll tell you all about them right now. I’m Bryan Ellis. This is Episode 155.----Hello, SDI Nation! Welcome to the podcast of record for savvy self-directed investors like you!Here we are on another glorious Monday! I don’t know if you look forward to Monday like I do, but my friends… it’s got to be my favorite day of the week… Except for the other 6, which I also love!Folks, a disproportionately large number of you, my dear listeners, live out in California. And a lot of you who don’t live there would like the opportunity to invest there.Today, I’m going to tell you about a way to do that that’s Simple… Safe… and Strong. Crazy strong, actually.Let’s start with a little example, shall we?Just a few weeks ago, the SDI Flipping Team in northern California closed a very good – and rather typical for us – real estate flip transaction.Will you bear with me for 30 seconds while I give you some numbers for those of you who are detail oriented? Don’t worry… I’ll reduce it down to net profit and total duration in just a second. Here are the quick details: This house sold for $180,000. We bought it for $121. Put about $14,000 worth of rehab into it.But for any deal, there are really only 3 bottom line numbers that matter – out-of-pocket investment, net profit, and duration.And for this deal – on Houston Avenue in Stockton California – the total out-of-pocket was $135,500. Total NET profit… after all costs… was $38,200… which is 28.1% cash-on-cash profit… and it all happened in a total of 45 days.If you’re listening to this podcast on our website at SDIRadio.com, just scroll down to see a picture of this property – courtesy of Zillow – and a delightful little table showing those numbers:Purchase Price: $121,00Resale Price: $180,000Out-Of-Pocket Costs: $135,500Profit: $38,200 (28.1% Cash-on-Cash)Duration: 45 daysNow here’s the thing, folks:There’s nothing that’s unusual about that, for experienced flippers.In fact, RealtyTrac releases a report each quarter about flipping activity in the United States. The most recent such report is for the third quarter of 2015 – released just in the last few days – and what it shows is that real estate flipping is BIG……with over 43,000 flips completed in just the third quarter of this year. That’s 5% of all home sale volume, but the really interesting stats are the average gross profit number – a whopping $62,122 per deal – and the average gross ROI – also a MASSIVE 33.8%.So there’s huge results being generated in very large volume out there right now, if you’re in the right market.So why are we focused on Northern California?Well folks, it’s just a question of looking at the data.Just this morning – November 2, 2015 – realtor.com released their latest list of 20 hottest markets in America… and almost half of those 20 markets for the entire country are… wait for it…In Northern California! Whether you’re talking about San Francisco or Sacramento or Stockton… that’s really where the action is.Now, let’s be clear… this isn’t a low-dollar game. The one region of Northern California where we focus is, I believe, the very best option available because the prices there are more affordable, but even so, you really shouldn’t even think about getting involved in flipping in NorCal unless you have a budget of at least $200,000.But if you do… just think of it!The example I gave you is just one of DOZENS my teams has performed this year… and that one isn’t particularly unusual.We closed on another one just recently in Stockton… the #11 hottest market in America… And this one yielded a net profit of almost $56,000 versus an investment from our client of $176k… that’s a net roi of 31.7%!That one took 150 days… but only because we had to evict a tenant from the property after we bought it. But we knew that going in, and frankly… the numbers were just too good to pass up… and I’m glad we took it… 31.7% net ROI in 150 days? I’d take it every single time.So, my friends… some of you are looking for great investment opportunities in California? Well, I’ve got you covered… but I’ve only got room for a grand total of 5 new turnkey flipping clients right now.Never heard of Turnkey Flipping? Well think of it like this: You fund the deal. You do nothing else. And 3-6 months later… you get your money back plus a big, big payday. That’s the bottom line!Yes, there’s risk. It’s entirely possible that California could break off into the ocean and you’d lose your entire investment. And frankly, that’s one risk that I’ve not yet figured out how to hedge against.But we have many, many very happy turnkey flipping clients and I’m so excited to offer you the opportunity to join us as a turnkey flipping client in the scorching hot markets of Northern California!Want to learn more? Then check out SDIRadio.com/norcal where I have a special webinar waiting on you with more information about this special opportunity. Again, that’s SDIRadio.com/norcal… during that webinar, I’ll give you a WHOLE LOT MORE case studies, and I’ll give you a thorough introduction to the PROCESS we use for analyzing, selecting, purchasing, renovating and reselling properties. You’ll understand where all of our efficiencies happen and why it’s possible for US to get great deals in a market that’s so hot it’s practically boiling.So that’s all for today, my friends… check out SDIRadio.com/norcal for more info right away. And remember:Invest wisely today… and live well forever! See acast.com/privacy for privacy and opt-out information.
Crunching the numbers sounds easy enough but which numbers do you use? National data doesn't always reflect individual markets and using geographical data isn't always a telling sign due to widespread changes in Fannie and Freddie's level of risk. Jason and Daren take a deep dive into analyzing market data and how tagging markets as linear, cyclical and hybrid allow investors to understand good properties based on cash flow and ROI. The Venture Alliance trip to Newport, Rhode Island was a great success. The speakers who are specialists in their fields were truly informative. The very first Venture Alliance member shares his favorite part of the Mastermind, the hot seat. Key Takeaways: Jason's Editorial: [1:26] Upcoming episodes on financing [2:07] Our first Venture Alliance member is on the podcast [5:01] Houses starting at $400,000 on Martha's Vineyard [9:06] Rehashing the Rhode Island trip [10:21] Hard money, short and long term lending, how it affects your debt to income ratio [14:18] The hot seat is the best part of the Mastermind [16:10] Recreational time is still business time during the Venture Alliance trips [17:44] A discussion is more intimate than a presentation [18:26] The inflation/deflation debate Daren Blomquist Guest Interview: [20:44] National data doesn't always reflect geographic niches [22:24] RealtyTrac is, at its core a data company [25:07] We have the ability to license, or re-sell the data to other companies [26:40] Home sales are at an 8 year high when analyzing 190 markets [29:00] The homeownership rate helps our clients to analyze markets [30:54] We analyze the tax assessor information for rental properties [33:37] Everything's relative [37:32] Thinking of real estate markets as linear (boring), cyclical and hybrid [42:40] A combination of jobs and universities help real estate markets [44:43] Extend and pretend or delay and pray markets [49:44] Market influences are tipping towards introducing additional risk Mentions: JasonHartman.com Venture Alliance Mastermind RealtyTrac CoreLogic Black Night
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
What’s the better investment: Rental Property or Flipping? Well, the verdict is in from a major real estate data firm. I’m Bryan Ellis. I’ll tell you what that verdict is, and it’s relevance for you, RIGHT NOW in Episode #98…----------Ahhhh yes… it’s a classic conflict among investors… Take a small bit of cash flow now and for years as a pacifier while you wait for big gains… or get in for the quick but substantial hit of profit by focusing on undervalued assets. Yes, my friends, it’s the constant debate of whether it’s smarter to RENT PROPERTY or to FLIP IT. And our friends at CoreLogic have the answer, which is: real estate FLIPPING is definitely winning the day versus rentals.And why wouldn’t that be true in today’s market? Real estate prices in much of the country is still undergoing a rather substantial rebound from the market carnage of 2007-2009… frankly, it’s the perfect scenario for real estate flipping, as the market itself is doing much of the work of bringing a profit for flippers.Still, there’s more to the story. This survey was conducted among investors purchasing real estate at auction… both in live auction settings and in online auctions. And there were 3 different types of buyers identified in the survey: One-time buyers, Real Estate Investors, and agents or representatives of investors.One-time buyers is the only group who preferred renting to flipping. It’s easy to see why: One-time buyers are inherently low-volume in terms of real estate transactions and frankly, it’s not plausible to be a flipper if you’re only doing it every now and then. That particular method of profiting from real estate doesn’t lend itself well to the casual investor.But to those professionals and serious flippers… this market remains a truly stellar environment in which to generate rather substantial short-term profits. I guess that’s why, among real estate investors and those who represent them at auctions, the Flip vs Rental option is won by the flippers by a differential that, if it was a presidential election, would be a landslide.There’s one large generalization that can be drawn from this study, and it is:The MORE PROPERTIES a person tends to buy in a year, the more likely they are to be real estate flippers rather than buy-and-hold investors. In fact, people who buy zero or one property per year are more likely to be landlords by a factor of about 60 to 40. But that ratio reverses almost exactly the very moment a person buys their second property.But overall, one thing is clear: Flipping is where the most money is being deployed among savvy, active real estate investors… and by a very, very wide margin.Why?It’s simple – there’s a lot of money in flipping. That’s not always the case. Look… I have a team of flippers that does GREAT work and are able to make profits in good times and bad times but, the truth is, sometimes it’s just EASIER to make money as a flipper than it is at other times. And right now – and I expect for at least another 2-3 years – flipping is in a real sweet spot.The best evidence of that is NOT the CoreLogic report, which is just a survey that people say what they “intend” to do. The best evidence is the RealtyTrac report that analyzes quarterly real estate flipping activity. That report shows what actually happened… not just intentions. And that report shows some really amazing numbers:First, it showed that the average GROSS profit for real estate flips that closed in Q1 of this year was over $72,000. Second, and just as importantly, it showed that the gross profit margin – sell price versus buy price – was over 35%. That means that it wasn’t mega-mansions that led to $72,000 average gross profits, but houses in the $100,000-$300,000 range… a much more palatable scale for most investors.But all of that is nebulous and imprecise… the result of studies, and not specific deals. So let’s look at some specific deals to see what’s REALLY going on out there.My Flip team closes 1-3 flips basically every week. One of the deals we closed last week, Barcelona Lane in Maricopa, Arizona, yielded rather typical results for my guys. That deal had gross numbers that absolutely exceeded the average gross profit and gross ROI numbers reported by RealtyTrac. But those are gross numbers, not net. The numbers that really matter on the Barcelona deal are these:This deal was completed in 4 months – almost to the day. And it returned a total NET cash-on-cash return of 29.6%.While this kind of result is far from atypical for my flip team, let’s face it… that’s an astounding result. If you got that result from investing in the S&P 500, that would be one of the 10 best years the stock market has ever seen. But that result is, thankfully, rather common for my flip team.My point is this: There’s a HUGE amount of opportunity in flipping, but I do have a warning for you: Don’t try this at home. Flipping isn’t a game for amateurs. Flipping is a real profession. It requires a lot of knowledge. It requires having highly reliable team members to do the work. It requires having a real system in place to produce consistent profit. Most of all, it takes experience to know which deals really make sense, and which are ticking time bombs, just waiting to wreak havoc on your portfolio.But you should NOT overlook the opportunity to get involved in real estate flipping… just not on your own. My advice? Work with somebody who has done HUNDREDS or THOUSANDS of these deals… don’t bite the bullet on your own. Better yet… work with someone who has that level of experience, and who will agree to compensation based on a percentage of the profits rather than contractor fees.Where can you find such a team with vast experience and the ability to work with 3rd party investors such as yourself?The answer is simple: Go over to S3Flip.com and I’ll tell you about a team who has done this a HUGE number of times… with an ASTOUNDING track record of success. Did you know that my team in Arizona has bought over 13,000 houses at the foreclosure auctions? We know what we’re doing… and have a vast amount of evidence to prove it. So stop by S3Flip.com to check it out. Look, this isn’t just me telling you about my flip team. This is PRESENT DAY REALITY, my friends. A huge part of my goal for this show is to connect you – the Self-Directed Investor – with great options for self-directing your investment portfolio. The answer to “what’s working now” is not always the same. Flipping is not always the best choice. Right now, it makes a huge amount of sense.And so in just a few weeks, I’m holding a live event in Phoenix called the Passive Property Flipping Summit, where I’ll gather investors together who see the promise of “Outsourced Flipping” – where you provide the capital but have no other responsibilities – and I’ll introduce you to my team, help you to understand our process, and show you how to participate in this very lucrative opportunity, without having to be a real estate flipper yourself.So if you’re interested, stop by at S3Flip.com because my friends, flipping is what’s working now. Not only does the survey from CoreLogic show that that’s where smart money is being deployed, but the analysis of over 17,000 flips done in Q1 of this year by RealtyTrac show the numbers undeniably: There’s very big opportunity in flipping right now… and the absolute best way for you to be connected to it is to see the “Outsource Property Flipper” training over at S3Flip.comOh… if you’re qualified to attend – which means you’ve got at least $75,000 of liquid capital to deploy – then the Passive Property Flipping Summit is free for you to attend. But it’s basically full already. I’m down to 15% capacity. So check it out right now if you’re interested at S3Flip.com.My friends… invest wisely today… and live well forever! See acast.com/privacy for privacy and opt-out information.
July 10, 2015 - Read the full GoodCrowdinfo article and watch the interview here: http://bit.ly/1HiTOIQ. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Matthew Sullivan is the founder and CEO of CrowdVenture, a company that is using the power of crowdfunding to help people stay in their homes, even when the homes are under water financially. Matthew explains: Every home has a heartbeat. Our aim is to demystify and democratise the investment process and give the wider community access to investments that deliver social benefits as well as solid returns. There are currently 821,275 properties in U.S. that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 1,287,934. In May, the number of properties that received a foreclosure filing in U.S. was 1% higher than the previous month and 16% higher than the same time last year. Homeowners have been waiting for serious, meaningful relief from the crash in their home values that was the byproduct of the manipulation of the finance sector during the years prior to the 2007 crisis. Many of the new foreclosure actions are being taken out against people who have tried to hang on to their homes despite the bottoming-out of home values and sky-high unemployment rates. One by one these families are falling into the jaws of foreclosure as they simply cannot hold out any longer. Banks are either unwilling or unable to offer solutions that are sustainable for the homeowner. The Home Guardian Fund does however offer a real solution – we buy these distressed, non-performing mortgages from banks and hedge funds at big discounts, then work with homeowners to reduce their principal balance and monthly payments so the loan becomes affordable again. This means the homeowner can stay in their home and no longer faces the threat of eviction. Our approach provides a profitable return for the investor, while helping to keep the heart beating in every home. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
Should you take your retirement account OFFSHORE… outside of the reach of Uncle Sam, and within grasp of a world of investment opportunities that don’t exist for most Americans? I’m Bryan Ellis… I’ll give you a tantalizing peak into the world of offshore investing RIGHT NOW in Episode #91.----------Offshore investing… it conjures images of exotic locales, freedom from taxes and an end to the worry that Uncle Sam will go all Cyprus on your money and steal everything you’ve worked so hard to build. And coupling offshore investment strategies with your retirement account… well, that seems to be the ultimate for a self-reliant, privacy-loving group like we Self Directed Investors. But is that the truth? Well… I’ll tell you the honest truth about it right after this:Write this down, my friends: S3Flip.com. S3Flip.com. You’ve heard me espousing the S3 Standard – SIMPLE, SAFE and STRONG – repeatedly on this show. You’ll hear that over and over from me because it’s CORE. It’s fundamental. You and I, as responsible self-directed investors, have one core value: To respect our own capital. And we do that by employing the S3 Standard when we evaluate investment opportunities. It’s no more complicated than that.But what about real estate flipping? You’ve also heard me talking about that. You’ve heard me sing the praises of my team, who facilitate fully outsourced property flips for our clientele of affluent investors who recognize the opportunity in flipping and are financially able to get involved, but who may not have the time or the expertise to handle it for themselves.But flipping is a really, really dangerous thing to do, isn’t it? Can’t you lose a LOT of money by trying to make money that way?Well, the answer is an absolute YES… YOU can lose a lot of money by trying to be a flipper. I mean… specifically… YOU could lose a lot of money by trying it because, well… you, my friend, are not a professional flipper. Let me tell you something: I personally have a vast, vast background in real estate investing. But I’m not a flipper. So for YOU… and for me, flipping is a dangerous thing.But my friends… what if you could join forces with someone who has done HUNDREDS of these deals? Someone who does NOTHING BUT real estate flipping. Someone who has an ASTOUNDING track record, available for you to review and confirm for yourself? Someone who has a large clientele of affluent investors who come back to him over and over and over again?What if it could be YOUR money… working totally passively… and THEIR expertise and resources… and at the end of the day, BOTH of you benefit in the same way: From PROFITABLE transactions! What if these deals were rather short – almost all completed in 4 months or so – so that you could generate a strong return on your capital on each deal… and then do 2 or 3 deals every year?So, my friends, here’s the opportunity: I have a team of EXTRAORDINARY real estate flippers that work with me and with some of my clients. They are top-notch, and I’ve given you examples of their work in past episodes. I’ll give you another case study tomorrow, too. And RIGHT NOW… which is an unusual circumstances… I can take on a few more clients who recognize the opportunity that exists in today’s real estate market for short-term flipping.And what is that opportunity? According to the huge real estate research firm RealtyTrac… the AVERAGE real estate flip in the first quarter of this year resulted in a gross profit of over $72,000 and gross ROI of over 35%. That’s the AVERAGE gross profit, not an exceptional one. And that’s across more than 17,000 flips that completed in the first quarter. Yep… 17,000 in the first quarter alone. Do the math on that… and what you’ll see is that in Q1 of this year, there was well over $1.2 BILLION in gross flipping profits.And guess what… our averages may be even better than what RealtyTrac has reported for the nation as a whole.So… maybe you’re already convinced of the opportunity. Maybe you just suspect an opportunity but aren’t yet convinced of it. But whatever your situation, if the prospect of making substantial cash-on-cash returns from real estate WITHOUT being tied up in it yourself gets your attention… if you’ve been looking for a way to diversify AWAY from Wall Street – you do know the S&P 500 is basically FLAT for the year, right? – and if your financial profile fits this opportunity which, at a basic level, means you have a minimum of $75,000 of liquid capital, then do this:Go to the website S3Flip.com. Go there soon because as I mentioned, we don’t have the ability to take on an unlimited number of clients, but I’ve got some space right now. On that page is a webinar you can watch where I’ll tell you all about our process… I’ll show you MANY examples of our deals… including the ONE losing transaction we’ve ever had for a client… and I’ll show you why this strategy… Fully Outsourced Real Estate Flips… along with MY FLIPPING TEAM… you’ll see why it’s such a BEAUTIFUL opportunity for those of you who want a SIMPLE and SAFE way to generate an incredibly STRONG return in a totally passive manner. So, again, that’s S3Flip.com. Respectfully, please do be aware that that opportunity won’t be available for long.So… you want to mix your retirement account with offshore investing?Honestly, it’s going to take us a couple of episodes to even scratch the surface of this issue. So let’s get started with it.Where to start?Well, let’s start with the most basic level: What is offshore investing?It means a lot of different things to different people, but let’s describe it like this: Offshore investing is when you invest in assets that are located in countries other than the US rather than in America-based assets. So, arguably, buying stocks from foreign stock exchanges is offshore investing. As is buying into foreign hedge funds, or creating foreign LLCs or corporations – rather than the American equivalent – for use in your retirement account.But can you do offshore investing through your retirement account?Well, maybe. It depends a lot on the type of account you have.At a basic level, you MUST have a fully self-directed account. I don’t mean a “self directed” account like they offer at eTrade or Schwab, where you get to self-direct so long as you buy products from those brokerages. I mean a TRUE self-directed account that allows you to buy absolutely anything that is allowed by the IRS.If you don’t know for sure, call your custodian and ask this question: “Can I buy shares of a private, unlisted company?” If the answer is YES, then there’s a good chance you’ve got a fully self-directed account.But that’s not the end of the story.That’s because it appears… anecdotally… that a whole lot of self-directed account providers put restrictions in their account documents which require that all of the indicia of ownership of the account’s assets must be in the United States. That’s a fancy way of saying that your investments must be based here in the good ole US of A.That is, of course, how Uncle Sam would prefer it. That way, they have access to your assets if they ever want to take them away. And if you think they can’t take them away… if you believe the nonsense that suggests your retirement savings are secure just because there’s some statutory protection for them under the law… well… I’ve got a bridge to sell to you. And… you should probably check out past episodes of this show, in which I show you a LOT of ways the government can callously rip away your hard-earned retirement savings with very, very little effort on their part.But I digress.You’ve heard me say over and over again that there really is a DIFFERENCE from one self-directed retirement account to the next? And most of the differences you’ll never even know… until you realize you can’t do something you wanted to do with your own retirement savings.Offshore investing is one of those things. So, I’ll dig into this topic of offshore investing more on tomorrow’s show. But for now, the first thing you’ve got to determine is this: Does my Self-Directed Retirement Account even allow me to buy international assets? Because… the hard truth is… many of them don’t.Tomorrow, we’ll get into the deeper things of offshore investing that many of you are pining for. So, be sure to SUBSCRIBE to Self-Directed Investor Radio RIGHT NOW… it’s really important that you do so. Go over to iTunes or Stitcher and subscribe – at no cost – so you’ll automatically get our new daily episodes.And remember what I told you earlier about the opportunity to do very well financial from fully outsourced real estate flipping. While that opportunity remains available, you can learn about it at S3Flip.com.My friends… invest wisely today… and live well forever! See acast.com/privacy for privacy and opt-out information.
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
What’s better than a Self-Directed IRA? The answer is, of course, a Self-Directed 401k! It’s everything that the Self Directed IRA is… but safer and far more financially potent. But do you qualify to have a Self Directed 401k? I’m Bryan Ellis… I’ll tell you how to make it happen RIGHT NOW in Episode #89----------Greetings, my friends! I’ve seen one question over and over in various forms, and it’s time I address it! The question comes from Nathan, who says:“I am a self-employed auto dealer in Walnut Creek, California operating as a sole proprietor. I currently have a SEP IRA with a small amount invested. I am interested in investing in a Solo 401K or Self Directed IRA that would allow me to invest in real estate rental properties. Any information you have would be appreciated.”Thanks for the question, Nathan! I’ll be delighted to help you clarify that question in this episode.But first, a quick shout-out to my flipping team in Phoenix. Another job well done, guys! They completed a deal on Desert Hills in the Phoenix metro area. It was another great profit… over $31,000 in net profit, and the total net cash-on-cash return on this project was over 40%! What’s even better… the deal took only 4 months and 3 days… and that 40% cash-on-cash return… well… that’s NOT an annualized number! So, needless to say, our client in the Passive Property Flipping program was THRILLED with that result.Related to that, I’d like to thank those of you who have, so kindly, expressed interest in getting involved in the Passive Property Flipping Program. I’ll take a quick second to tell you about that, because there’s an opportunity coming up that may be of interest to you.Here’s the bottom line on it: Real estate flipping can be both VERY profitable, and VERY dangerous. When done well, there’s a lot of money to be made. RealtyTrac recently published a study about real estate flipping in the first quarter of 2015, and the results are that there were more than 17,000 properties flipped in Q1 of this year, and that the AVERAGE gross profit on those deals was over $72,000.So clearly, there’s HUGE financial potential. BUT… it’s not a simple thing to do, and it takes a lot of time. Yet still, there’s interest in real estate flipping from many affluent investors who have the money and the willingness, but neither the time nor the skill.That’s where the Passive Property Flipping program comes into plays. My team is EXTRAORDINARY. We have so many case studies to prove it that you’ll go crazy LONG before you see them all. But that’s a good thing. We have a process… a system… and it works… and there’s OVERWHELMING PROOF that it works consistently. We’ve had exactly ONE losing deal… it was a very small $3,000 loss. The rest of the deals… over a hundred in recent months alone… well, all of the rest have been profitable. And I’m not going to tell you the results of a “typical” deal here because… well, your financial advisor has probably told you that results like we produce aren’t possible. But our process works, and works incredibly well… and you’ll see exactly why we can produce great results consistently when you learn more about what we do.So… if you’d like to know more, and how YOU can get involved in enjoying real estate flipping profits… but WITHOUT requiring your time or expertise, then I’d suggest you check out our special webinar training RIGHT NOW… you can watch it at SDIRadio.com/flip… and it will tell you all about the program, with a WHOLE LOT of case studies and VERY THOROUGH explanation of our process.We are not ALWAYS able to take on new clients, but we do have an opening right now. And this opportunity is only suitable for you if you have at least $75,000 of liquid capital. If that’s you, and you’re interested in strong results for your portfolio from flipping go ahead and check out SDIRadio.com/flip.Now, for our question of the day!So… Nathan is a business owner and wants to form a self directed IRA or 401k and invest in real estate rentals. Nathan: Welcome! You’re getting into a really exciting area of personal finance.Let’s start with the IRA vs 401k question. Nathan, a Self Directed 401k is better than a Self Directed IRA in every way. As in, EVERY way. Not even close. The biggest difference, to me, is that if you accidentally commit a prohibited transaction – in other words, if you break any of the IRS rules concerning IRA’s – then you’ve got a disaster on your hands if you’re using an IRA. With a 401k, it’s still a problem… but a pretty easy one to fix. There are many more reasons a 401k is superior. Check out Episode #3 of Self Directed Investor Radio for a complete discussion of the differences.Nathan, I’m recommending a 401k to you because you qualify for it as a business owner. If you didn’t own a business, you’d have to use a self directed IRA, which is still far better than any other non-self-directed retirement account option.But… I’m guessing you have employees. If that’s the case, then you can’t use a Solo 401k, which is what most people think of when they think of a self directed 401k. A solo 401k is basically a 401k that’s intended only for businesses with no employees except the owner and the owner’s spouse. But no problem… you can still have a fully self-directed 401k even though you have employees… you just have to use a “regular” 401k that isn’t a solo. It will cost you slightly more, but it’s what the law requires.Now… as for investing in rental property through your 401k… think hard about that, ok? The fact is this: There are a LOT of tax advantages to be had by owning real estate OUTSIDE of a retirement account. Assuming you’re planning to hold your rental property for a long time, then it’s pretty likely you’d benefit from performing the transaction OUTSIDE of your 401k and depreciating the property, then later taking advantage of a 1031 exchange to defer the taxes forever. Talk with a tax advisor to get the full story. It makes sense to hold just about any kind of allowable investment asset in your ira or 401k rather than outside of it, but for long-term real estate holds, the tax advantages that exist for real estate specifically may outweigh other benefits you’d receive through your 401k.And one more thing, Nathan… if you have your 401k set up CORRECTLY… and believe me when I tell you that they’re NOT all the same… then it’s possible for you to borrow a rather substantial amount of money from your own 401k, so that you can use that money to do your real estate deals outside of the 401k! But again, that’s subject to your having a 401k that is set up correctly to begin with.So Nathan, if you’d like a referral to the very best source for getting your Self Directed 401k established correctly – whether you need the solo 401k variety or the variety that allows for employees – just drop me a note at feedback@sdiradio.com and I’ll be happy to hook you up.That goes for the rest of you, too, my friends. A self directed 401k is an AMAZING tool… and if you’re saving for retirement and you qualify to have one, you’d be unwise to use anything else.That’s all for today, my friends! For you affluent investors who are interested in profiting from real estate flipping be sure to check out our special webinar training on The Passive Property Flipping Program over at SDIRadio.com/flip. You’re going to love it! My friends… Invest wisely today… and live well forever! See acast.com/privacy for privacy and opt-out information.
Todd talks with Darren about starting his business, how technology helped him launch a new service where consumers get information about houses for sale directly and immediately. Also talks about opportunities/pitfalls in foreclosures.
Self Directed Investor Talk: Alternative Asset Investing through Self-Directed IRA's & Solo 401k's
BIG PROFITS in FLIPPING? RealtyTrac says that the AVERAGE Flip in Q1-2015 made $72,450 PER DEAL.. So Should You Jump In? Maybe... But Probably Not! Listen in to see why, and text SDIRADIO to 33444 for more info! See acast.com/privacy for privacy and opt-out information.
In this show, Brian and Paul are joined by Daren Blomquist of RealtyTrac during a conference in Cleveland on zombie foreclosures. Some of the topics covered are how an individual can use RealtyTrac to find foreclosure deals, how the company gathers data, how fresh or updated their data is as well as what other tools RealtyTrac has that can help real estate investors and professionals.
Most indicators point to substandard housing performance in 2015. Many variables such as affordability, foreclosure trends, demographics, among others, will play a role nationally and regionally in presenting opportunities and pitfalls. Joining the broadcast today to discuss the 2015 housing market is Daren Bloomquist with RealtyTrac. Daren joined RealtyTrac in 2001 and has been instrumental in many facets of the company’s business as it transformed into the industry leader it is today. Daren is RealtyTrac’s primary media spokesperson and resident go-to expert on housing and foreclosure statistics and trends. Daren is also managing editor of RealtyTrac’s Foreclosure News Report, which was named the “Nation’s Best Newsletter” by the National Association of Real Estate Editors, and is directly responsible for the creation of the company’s U.S. foreclosure market and sales reports. The report is cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY.
RealtyTrac sees foreclosures at pre-recession levels early next year, and banks gearing up for some "spring cleaning."
Investing guru, Bryan Ellis, joins Jason Hartman on today's Creating Wealth Show to discuss some of the common pit-falls of investing, as well as to give some indication of the potential foreclosure rate. They consider the state of today's smoke and mirrors economy and its impact on future investing and finances. Key Takeaways 04.35 – The economy's strength situation now seems to be a lot more regional than it was around 2007-2008. 05.30 – RealtyTrac's announcement about foreclosures shows us that we can't build a future without finishing what we started in the past. 06.15 – People's three fundamental needs are the same as they've always been: food, clothing and shelter. 13.30 – We need the world to realize that the economy we're running off is just smoke and mirrors. 17.30 – When the changes start to take place, huge inflation could be a very real possibility. 19.00 – Investment doesn't have to be in stocks; it can be in real estate, or even just in commodities such as copper, steel, labour etc. 21.30 – Think of a deal from the most conservative standpoint you can, and ask yourself if it makes sense. 23.20 – A lot of people still haven't realized that intellectual property could be the answer to successful investing. 25.00 – Many companies have a lot of intellectual property that they don't even classify as such. 26.50 – The entire structure of this intellectual property set-up focuses on the presence of a third party. 29.30 – Ultimately, the fact still remains that the fundamentals are what matter. 30.00 – For more information about Bryan's investing strategies or to receive his newsletter, visit www.investing.bryanellis.com
We're joined today by Daren Blomquist, Vice-President of RealtyTrac, who's been with the organization since 2001 and played an instrumental role in helping transform RealtyTrac into a premiere real estate information provider and online marketplace for default and foreclosed properties. Blomquist is also responsible for the creation of the company’s U.S. foreclosure market and sales reports, which are cited by thousands of media outlets nationwide, and he interfaces with numerous government agencies at the national, state and local level. He joins us today to discuss RealtyTrac’s success and to unveil the new "Mega" Web-Application – a fast and easy way to search the entire U.S. for possible Motivated Property Owners that meet a specific criteria you want. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher
Daren Blomquist, Vice President at RealtyTrac discusses a recent report published by RealtyTrac analyzing housing affordability. Daren is directly responsible for the creation of the ReatlyTrac's U.S. foreclosure market and sales reports, which are cited by thousands of media outlets nationwide — including all the major news networks and leading publications such as The Wall Street Journal, The New York Times and USA TODAY. He has been quoted in hundreds of national and local publications and has appeared on national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business and Bloomberg.
Rick Sharga is EVP at Auction.com. Ahead of his current post, he was an EVP and primary spokesman for Carrington Mortgage Holdings. Before Carrington, Sharga spent eight years at RealtyTrac, where as SVP he was responsible for marketing, business development, and data operations. One of the country’s most frequently quoted sources on real estate, mortgage, and foreclosure trends, Sharga has appeared on the CBS Evening News, NBC Nightly News, CNN, ABC World News, CNBC, FOX, and NPR.
SPONSOR: FX WEB MEDIA: Foreclosure filings and repossessions fell to their lowest level since 2007 last year. Total filings, including default notices and bank repossessions were down 33% for the year to 2.7 million, according to RealtyTrac, the online marketer of foreclosed properties. One in every 69 homes had at least one foreclosure filing during the year, while 804,000 homes were repossessed. That's a significant improvement from the peaks reached in 2010 -- when 1.05 million homes were repossessed -- and the lowest levels seen since 2007. More than 4 million homes have been lost to foreclosure over the past five years.
SPONSOR: FX WEB MEDIA: Foreclosure filings and repossessions fell to their lowest level since 2007 last year. Total filings, including default notices and bank repossessions were down 33% for the year to 2.7 million, according to RealtyTrac, the online marketer of foreclosed properties. One in every 69 homes had at least one foreclosure filing during the year, while 804,000 homes were repossessed. That's a significant improvement from the peaks reached in 2010 -- when 1.05 million homes were repossessed -- and the lowest levels seen since 2007. More than 4 million homes have been lost to foreclosure over the past five years.
Jason Hartman analyzes the foreclosure market with RealtyTrac Senior Vice President, Rick Sharga. Visit: http://jasonhartman.com/radioshows/. As one of the country's most frequently-quoted sources on foreclosure, mortgage and real estate trends, Rick has appeared on NBC Nightly News, CNN, CBS, ABC World News, CNBC, MSNBC and NPR. Rick has briefed government organizations such as the Federal
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